Krispy Kreme Doughnuts Inc (NASDAQ:DNUT) has unveiled a changing of the guard, naming Josh Charlesworth as its new chief executive, effective from the start of next year.
Charlesworth, who joined the doughnut company in 2017, will take the reins from Michael Tattersfield, the departing boss, who is taking a backseat role on the board as senior advisor.
Under Tattersfield's leadership since 2017, Krispy Kreme's revenue has grown from $550 million to an expected $1.6 billion in 2023.
"Today, we celebrate the transformation of Krispy Kreme under Mike’s leadership," said Olivier Goudet, chairman of the doughnut maker.
Charlesworth's ascension to the role of CEO comes at a time when Krispy Kreme has been experiencing strong growth.
The company has reported four consecutive quarters of double-digit organic revenue expansion and has been expanding its global footprint.
Charlesworth has previously served in various leadership capacities at Krispy Kreme, including as CFO and head of the global business.
Pre-market, the shares were down 1.4%.