published : 2023-09-25
Krispy Kreme CEO to Step Down, New CEO to Lead During Strong Period of Growth
Michael Tattersfield to step down in January, succeeded by Josh Charlesworth
Krispy Kreme, the beloved doughnut maker, has announced a significant change in leadership.
After six years at the helm, CEO Michael Tattersfield will be stepping down in January.
Tattersfield's tenure as chief executive officer since 2017 has been marked by remarkable growth and transformation.
Under his leadership, Krispy Kreme's revenue has skyrocketed from $550 million in 2016 to an impressive estimated $1.6 billion in 2023.
This tremendous expansion and transformation have positioned Krispy Kreme as a global force in the industry.
However, as Tattersfield bids farewell to the CEO role, a new leader is ready to take the company's reins.
Effective January 1, Josh Charlesworth will assume the position of CEO, stepping into a role that befits a time of 'strong period of growth' at Krispy Kreme.
Since joining Krispy Kreme in 2017, Charlesworth has served in various critical leadership positions, including global president, chief operating officer, and chief financial officer.
With his extensive experience and deep understanding of the company's operations, Charlesworth is primed to guide Krispy Kreme towards even greater success.
Under his watch, Krispy Kreme has successfully navigated growth, adapting to changing consumer demands and expanding its global reach.
The company proudly boasts four consecutive quarters of double-digit organic revenue growth, a clear sign of its accelerated momentum.
Additionally, Krispy Kreme's adoption of an omnichannel sales strategy and asset-light distribution model has further propelled its global expansion.
Notably, the company reaffirms its full-year 2023 guidance, anticipating revenue to trend towards the higher end of expectations.
This unwavering confidence in the company's performance strengthens Charlesworth's appointment as the new CEO.
Krispy Kreme's reach spans across 30 countries, where it serves customers through its iconic doughnut shops as well as partnerships with leading retailers.
Moreover, the company's online and delivery business has played a crucial role in connecting with consumers in the digital age.
As the transition of power takes place, Tattersfield will retain his position on Krispy Kreme's board and remain a significant investor in the company.
His continued involvement symbolizes his enduring commitment to Krispy Kreme's ongoing success.
The change in leadership at Krispy Kreme marks an exciting chapter in the company's history.
With a new CEO who brings a fresh perspective and extensive experience, Krispy Kreme is poised to continue its impressive growth trajectory.
As doughnut lovers around the world eagerly await the next delectable creation, Krispy Kreme's future shines brightly.