Marissa Andrada
Director at DNUT
Board
About Marissa Andrada
Marissa Andrada (age 57) has served as an independent director of Krispy Kreme, Inc. (DNUT) since February 2022 and currently chairs the Board’s Remuneration & Nomination Committee. She was Chipotle’s Chief Diversity, Inclusion and People Officer (2020–2022) and Chief People Officer (2018–2020), previously held senior HR roles at Kate Spade/Tapestry and Starbucks, and earlier led HR at GameStop and Red Bull North America. She holds an MBA from Pepperdine University and a BS in Business Administration from Cal Poly Pomona .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Chipotle Mexican Grill (NYSE: CMG) | Chief Diversity, Inclusion and People Officer | Jul 2020 – Aug 2022 | Executive HR and DEI leadership |
| Chipotle Mexican Grill | Chief People Officer | Apr 2018 – Jun 2020 | Executive HR leadership |
| Kate Spade & Company/Tapestry | SVP HR & Chief Human Resources Officer | Jul 2016 – Oct 2017 | Enterprise HR leadership |
| Starbucks Coffee Company (NASDAQ: SBUX) | Various SVP roles | Nov 2010 – Mar 2016 | Senior people/operations leadership |
| GameStop Corporation (NYSE: GME) | Head of HR | Not disclosed | Human capital leadership |
| Red Bull North America, Inc. | Head of HR | Not disclosed | Human capital leadership |
External Roles
| Organization | Role | Tenure | Committees |
|---|---|---|---|
| Krispy Kreme, Inc. (NASDAQ: DNUT) | Independent Director | Director since 2022 | Remuneration & Nomination Committee Chair |
| Public company boards (count) | Total public boards incl. DNUT | 1 | N/A |
No additional public company directorships were disclosed beyond Krispy Kreme .
Board Governance
- Independence: DNUT’s Board determined Ms. Andrada is independent under Nasdaq rules and eligible for compensation committee service .
- Committee roles: Chair, Remuneration & Nomination Committee; the committee met 5 times in 2024 and consists solely of independent directors .
- Attendance and engagement: The Board met 6 times in 2024; all directors attended at least 75% of Board and applicable committee meetings except one director for health reasons (Ms. Andrada was not among exceptions) .
- Board structure: Lead Independent Director in place; executive sessions of independent directors are held; annual Board/committee evaluations conducted .
- Ownership context and potential influence: JAB beneficially owns ~43.9% of DNUT and has an Investor Rights Agreement providing consultation rights on Board composition and strategy; three director nominees are JAB-affiliated. The Board and relevant committees remain comprised of a majority independent directors (Audit & Finance and Remuneration & Nomination fully independent) .
Fixed Compensation
| Pay element | Amount/Policy | Notes |
|---|---|---|
| Fees earned or paid in cash (Andrada, FY2024) | $70,000 | Reported cash compensation for 2024 |
| DNUT Non-Employee Director Fees (Policy) | ||
| • Board Chair (cash retainer) | $200,000 | Annual cash retainer |
| • Lead Independent Director (cash retainer) | $80,000 | Annual cash retainer |
| • Non-employee Director (cash retainer) | $60,000 | Annual cash retainer |
| • Committee member (additional cash) | $5,000 | Annual cash retainer |
| • Audit & Finance Chair (additional cash) | $75,000 | Annual cash retainer |
| • Remuneration & Nomination Chair (additional cash) | $70,000 | Annual cash retainer |
Notes: The proxy reports Ms. Andrada’s 2024 cash fees as $70,000; the policy table reflects the fee schedule but the proxy does not break down her cash by component .
Performance Compensation
| Equity element | Amount/Policy | Vesting/Terms |
|---|---|---|
| Stock awards (Andrada, FY2024) | $100,013 | Reported grant-date fair value |
| Annual equity grant (policy) | $100,000 for directors; $255,000 for Board Chair | Number of RSUs = grant value ÷ closing price on grant date |
| Vesting schedule (director RSUs) | Time-based | 60% at 3rd anniversary; 20% at 4th; 20% at 5th anniversary of grant |
Performance metrics: DNUT’s director equity is time-based RSUs; no performance metrics are applied to director equity awards .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public boards | 1 (includes DNUT) |
| Interlocks/conflicts disclosed | None disclosed for Ms. Andrada; DNUT discloses related-party policies and JAB-related arrangements but does not identify transactions involving Ms. Andrada |
Expertise & Qualifications
- Human capital/CHRO and DEI leadership across QSR and consumer brands (Chipotle, Starbucks; Kate Spade/Tapestry) .
- Independent director eligibility for compensation committee service under SEC/Nasdaq standards .
- Education: MBA (Pepperdine); BS Business Administration (Cal Poly Pomona) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Marissa Andrada | 4,140 | <1% | Beneficial ownership as of Apr 10, 2025 |
| All directors & executive officers (19) | 5,065,599 | 3.0% | Group holdings |
Hedging/pledging: DNUT prohibits directors and executive officers from hedging, shorting, margining or pledging Company stock under its Insider Trading Policy, supporting alignment with shareholders .
Governance Assessment
- Strengths
- Independent director with relevant QSR and HR/DEI expertise; chairs a fully independent Remuneration & Nomination Committee (5 meetings in 2024) .
- Board governance practices include Lead Independent Director, executive sessions, and annual evaluations; Audit & Finance and Remuneration & Nomination committees are fully independent .
- Shareholder alignment mechanisms: director equity grants; prohibition on hedging/pledging; company-wide clawback policy for incentive-based compensation; double-trigger change-in-control protection under Omnibus Plan (policy context) .
- Positive shareholder feedback on pay: 97.3% Say-on-Pay support in 2024, overseen by the Remuneration & Nomination Committee .
- Watch items
- Ownership concentration and influence: JAB beneficially owns ~43.9% and retains consultation rights under an Investor Rights Agreement; three nominees are JAB-affiliated. Continued emphasis on independent committee leadership (including Ms. Andrada’s role) is important to maintain investor confidence .
- Modest personal share ownership (4,140 shares, <1%)—factually low in absolute terms though no director ownership guideline is disclosed in the proxy .
Appendix: Board/Committee Activity (FY2024)
| Body | Meetings (FY2024) | Notes |
|---|---|---|
| Board of Directors | 6 | ≥75% attendance for all directors except one (health reasons) |
| Audit & Finance Committee | 7 | Independent; Chair identified in proxy |
| Remuneration & Nomination Committee | 5 | Independent; Chair: Marissa Andrada |