David Deno
Director at DNUT
Board
About David Deno
David Deno, age 67, is an independent director of Krispy Kreme (DNUT) and has served on the Board since September 2016. He is the retired CEO of Bloomin’ Brands (2019–2024) with prior senior finance and operating roles at PepsiCo and YUM! Brands (CFO then COO), bringing deep financial control, public company leadership, and restaurant operations expertise. He holds a B.A. in Economics and Political Science from Macalester College and an M.B.A. from the University of Michigan .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Bloomin’ Brands (NASDAQ: BLMN) | Chief Executive Officer | Mar 2019–Dec 2024 | Led IPO as CFO previously; managed through COVID; strategic investments and international growth |
| Bloomin’ Brands | Chief Financial & Administrative Officer | 2012–2019 | Established financial processes; supported strategy execution |
| YUM! Brands | Chief Financial Officer; then Chief Operating Officer | — | Set public company strategy; scaled U.S. and international businesses |
| PepsiCo | Senior-level operations and finance roles | — | 15+ years across senior operations/finance |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Panera Brands, Inc. | Director | Current | Current Board member |
| Bloomin’ Brands | Director | Prior | Former Board member |
| Peet’s Coffee | Director | Prior | Former Board member |
| Caribou/Einstein Bagels | Director | Prior | Former Board member |
Board Governance
- Committee assignments: Chair, Audit and Finance Committee; Audit and Finance composed solely of independent directors; the Board has appointed a Lead Independent Director (Gerhard Pleuhs) .
- Independence: The Board determined Mr. Deno is independent under Nasdaq rules; he meets SEC/Nasdaq audit committee independence and is an “audit committee financial expert” .
- Attendance and engagement: The Board met 6 times in 2024; each director attended at least 75% of Board and committee meetings during service, except Paul Michaels (health reasons) and Patricia Capel (missed one of three); Audit & Finance Committee held 7 meetings in 2024 .
- Board tenure and refresh: DNUT is reducing Board size from 11 to 9 with a refreshed slate in 2025 and adding a Strategy & Operating Committee post-election .
Fixed Compensation
| Component | Amount (USD) | Notes |
|---|---|---|
| Fees Earned or Paid in Cash (2024) | $75,000 | Reflects 2024 cash paid; DNUT’s 2024 fee schedule includes annual Board cash retainers and chair/member retainers |
| Stock Awards (Grant-Date Fair Value, 2024) | $100,013 | Annual equity grant for non-employee directors |
| Total (2024) | $175,013 | Sum of cash + stock awards |
Performance Compensation
- DNUT does not use performance-based pay for non-employee directors; equity is time-vesting RSUs. No PSUs or option awards are part of director pay in 2024 .
| Equity Instrument | Vesting Tranches | Schedule | Grant Mechanics |
|---|---|---|---|
| RSUs (Annual Director Grant) | 60% / 20% / 20% | 3rd / 4th / 5th anniversary of grant date | Shares granted = grant value ÷ closing price, rounded up |
Other Directorships & Interlocks
| Link | Detail | Potential Consideration |
|---|---|---|
| Panera Brands Interlock | Deno serves on Panera Brands’ board; Gerhard Pleuhs (DNUT Lead Independent Director) also serves on Panera’s board | Information flow and shared perspectives; monitor for committee overlaps and any related-party exposure via JAB-affiliated companies (general, not Deno-specific) |
Expertise & Qualifications
- Financial expert and audit chair experience; deep understanding of financial reporting, internal controls, and compliance; identified as “audit committee financial expert” .
- Extensive public company leadership in consumer and restaurant sectors; CFO/COO operating background; M&A and strategic execution credentials .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class |
|---|---|---|
| David Deno | 82,046 | <1% |
Notes:
- Company outstanding shares used for % calculation: 170,657,690 as of April 10, 2025 .
Governance Assessment
- Strengths: Independent director; chairs an all-independent Audit & Finance Committee; designated financial expert; committee met 7 times in 2024, indicating active oversight of controls, auditors, and compliance .
- Alignment: Receives mix of cash and long-dated RSUs with 5-year vest completion, supporting long-term orientation; no excise tax gross-ups or hedging/pledging permitted under Insider Trading Policy .
- Attendance: Board and committees broadly met minimum attendance thresholds; no Deno-specific exceptions noted for 2024 .
- Conflicts: No related-party transactions disclosed specific to Deno; broader JAB relationships (licensing with Keurig Dr Pepper; Investor Rights Agreement) exist at the company level and warrant monitoring, but Deno is not identified as JAB-affiliated .
- RED FLAGS: None disclosed specific to Deno. Watch items include external board interlocks with Panera (shared with DNUT Lead Independent Director) and structural influence via JAB’s IRA (consultation on board composition/strategy) at the company level .