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    Krispy Kreme Inc (DNUT)

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    Krispy Kreme, Inc. (DNUT) is a global sweet treat company renowned for its iconic doughnuts and other baked goods. The company operates through a unique Hub and Spoke model, ensuring fresh daily delivery of its products to various retail and ecommerce channels. Krispy Kreme's offerings include its signature Original Glazed doughnuts, a variety of other sweet treats, and products from its Insomnia Cookies brand.

    1. U.S. Segment - Operates company-owned Krispy Kreme shops, Insomnia Cookies bakeries, and Delivered Fresh Daily (DFD) operations, which distribute fresh doughnuts to retail and third-party locations.
    2. International Segment - Manages company-owned operations in regions such as the U.K., Ireland, Australia, New Zealand, and Mexico, delivering Krispy Kreme products through retail and ecommerce channels.
    3. Market Development Segment - Oversees franchise operations globally and company-owned operations in Japan and Canada, expanding the brand's reach through partnerships and local adaptations.
    NamePositionStart DateShort Bio
    Josh CharlesworthPresident and CEOJanuary 1, 2024Joined Krispy Kreme in 2017, previously held roles as CFO, COO, and Global President. Former Global CFO of Mars Chocolate. Holds a B.Sc. in Economics from LSE.
    Jeremiah AshukianEVP and CFOJanuary 9, 2023Extensive finance experience, previously held CFO roles at Mars Inc. across North and Latin America. Holds a Mathematics degree and CPA/CMA designations from Ontario, Canada.
    Raphael DuvivierChief Development OfficerJune 2023Oversees global market development strategy. Joined Krispy Kreme in 2019, previously held senior roles at Restaurant Brands International. Holds a B.Sc. in Industrial Engineering and an MBA from INSEAD.
    Javier Rancaño LassalaPresident, United StatesMay 2023Responsible for U.S. market and Global Operations Excellence. Former leadership roles at Taco Holding, Premium Restaurant Brands, and Yum! Restaurants International. Holds an M.Sc. from Stanford.
    Kelly McBrideChief Accounting OfficerMay 10, 2023Former VP, Global Corporate Controller at Krispy Kreme. Previously held leadership roles at Snyder’s-Lance, Hancock Natural Resource Group, and Ernst & Young. Holds a Master of Accountancy and is a CPA.
    Sherif RiadGlobal Chief Supply Chain OfficerJanuary 2024Extensive supply chain experience in pharmaceutical, FMCG, and QSR industries. Previously held roles at GSK, Kraft Foods, and Mondelez. Joined Krispy Kreme in August 2021.
    David SkenaChief Brand OfficerMarch 2022Former CMO of Ruby Tuesday and held marketing roles at PepsiCo and Kraft Foods. Holds a B.A. in Economics, a Graduate Diploma in Economics, and an MBA from Northwestern University.
    Matthew SpanjersChief Growth Officer and President, InternationalAugust 2019 (CGO), May 2023 (President, International)Oversees international growth strategy. Former Chief Strategy and Development Officer at Krispy Kreme. Held leadership roles at Caribou Coffee and McKinsey & Company.
    Catherine TangChief Legal Officer and Corporate SecretaryJuly 2020 (CLO), August 2020 (Corporate Secretary)Former VP and Associate General Counsel at Yum! Brands. Holds a J.D. from the University of Louisville and a B.A. in Economics and Government from the University of Texas at Austin.
    Angela YochemChief Information OfficerDecember 2023Multi-industry CxO with experience in building technological capabilities. Former EVP Chief Transformation & Digital Officer at Novant Health. Holds a B.M. and an M.S. in Computer Science.
    Terri ZandhuisChief People OfficerAugust 2017Former EVP and Chief People Officer at AOL and VP of HR at eBay Enterprise. Holds a B.A. in Organizational Management and is actively involved in community organizations.
    1. Given the unexpected $3 million in vehicle accident claims and higher logistics costs impacting margins this quarter, what specific measures are you implementing to mitigate these costs, and how confident are you that these issues won't recur in the future?
    2. Your adjusted EBITDA margin declined significantly in the U.S. segment due to increased start-up costs from the accelerated McDonald's rollout and underperformance in the U.K. How do you plan to improve margins while managing the complexities of rapid expansion?
    3. With the acceleration of the McDonald's rollout leading to increased start-up costs and margin pressure expected into the first half of 2025, how are you balancing growth with profitability, and what are your expectations for margin improvement as the rollout progresses?
    4. Considering the challenges in the U.K. market, including consumer trends and regulatory changes leading to underperformance, what strategic actions are you taking to turn around performance, and how does this impact your overall international growth strategy?
    5. After the sale of your majority stake in Insomnia Cookies and the shift towards a more capital-light franchise model internationally, how do these changes affect your long-term growth plans, and are there considerations to divest other equity-owned international markets?