EX-99.1 2 exhibit991-pressrelease.htm EX-99.1 exhibit991-pressrelease
Exhibit 99.1  Krispy Kreme Promotes Josh Charlesworth to CEO  Long me CEO Michael Ta ersfield to Remain on the Board and Transi on to Senior Advisor and Krispy Kreme Ambassador, Effec ve January 1, 2024 CHARLOTTE, NC (September 25, 2023) – Krispy Kreme, Inc. (NASDAQ:DNUT) today named Josh  Charlesworth as President and Chief Execu ve Officer, effec ve January 1, 2024. Mr. Charlesworth brings  decades of experience overseeing consumer brands, and most recently served as Krispy Kreme’s Global  President and Chief Opera ng Officer a er joining the company in 2017.   As part of the company’s succession plan, Mr. Charlesworth will succeed Michael Ta ersfield, who has  held the role since 2017 and led a significant expansion and transforma on, resul ng in revenue growing  from $550 million in 2016 to more than an expected $1.6 billion in 2023. Mr. Ta ersfield will remain on  the Krispy Kreme Board, serve as a Senior Advisor and Krispy Kreme Ambassador, and con nue to be a  significant investor in the company.  "Today, we celebrate the transforma on of Krispy Kreme under Mike’s leadership, as it grew from a  complex, multi‐product primarily‐US model to a more global, capital efficient hub‐and‐spoke omni‐ channel model, focused on delivering fresh, awesome doughnuts, all while nearly doubling the adjusted  EBITDA of the business,” said Olivier Goudet, Chairman of Krispy Kreme’s Board of Directors. “Mike re‐ ignited the iconic Krispy Kreme magic, and we are grateful he has decided to stay on the Board and be an  ambassador for Krispy Kreme. At the same  me, we are incredibly excited to appoint Josh to CEO as he  has played a cri cal role in Krispy Kreme’s growth for the last six years and will now lead the company’s  next chapter of success and value crea on.”   “I couldn’t be happier to transi on the CEO role to Josh,” said Mr. Ta ersfield. “Transforming the Krispy  Kreme brand and culture has been a highlight of my career, and I am truly grateful for our amazing Krispy  Kremers who con nue to inspire me. Josh’s shared passion for the brand, our Krispy Kremers, and  freakin’ awesome doughnuts gives me the utmost confidence in our con nued success and I look  forward to watching all he’ll accomplish.”   Mr. Charlesworth has served in various Krispy Kreme leadership roles, including Chief Financial Officer,  Chief Operating Officer, and Global President. He will now assume his new role during a strong period of  growth at the company. Through the implementation of its growing omni‐channel sales strategy and  asset‐light distribution model, Krispy Kreme has delivered four consecutive quarters of double‐digit  organic revenue growth while expanding its global reach. The company is also reaffirming full year 2023  guidance and continues to trend toward the middle to the higher end of the revenue and adjusted  EBITDA ranges.     “The opportunity to lead such an incredible Krispy Kreme team is both an honor and a privilege,” said  Mr. Charlesworth. “Together, we will con nue to make fantas c, fresh doughnuts conveniently available  to more and more consumers around the world. I want to thank Mike for the strong founda on he has  built as we pursue our goal to become the world’s most loved sweet treat brand.”  About Krispy Kreme    Headquartered in Charlo e, N.C., Krispy Kreme is one of the most beloved and well‐known sweet treat  brands in the world. Our iconic Original Glazed® doughnut is universally recognized for its hot‐off‐the‐


 
Exhibit 99.1  line, melt‐in‐your‐mouth experience. Krispy Kreme operates in more than 30 countries through its  unique network of fresh doughnut shops, partnerships with leading retailers, and a rapidly growing  Ecommerce and delivery business with nearly 13,000 fresh points of access. Our purpose of touching  and enhancing lives through the joy that is Krispy Kreme guides how we operate every day and is  reflected in the love we have for our people, our communi es and the planet. Connect with Krispy  Kreme Doughnuts at www.KrispyKreme.com, or on one of its many social media channels, including  www.Facebook.com/KrispyKreme and www.Twi er.com/KrispyKreme.    Cau onary Note Regarding Forward‐Looking Statements  This press release contains forward‐looking statements that involve risks and uncertain es. The word “guidance,” or similar words, or the nega ve of these words, iden fy forward‐looking statements. Such forward‐looking statements are based on certain assump ons and es mates that we consider reasonable but are subject to various risks and uncertain es and assump ons rela ng to our opera ons, financial results, financial condi ons, business, prospects, growth strategy and liquidity. Accordingly, there are, or will be, important factors that could cause our actual results to differ materially from those indicated in these statements. The inclusion of this forward‐looking informa on should not be regarded as a representa on by us that the future plans, es mates or expecta ons contemplated by us will be achieved. Our actual results could differ materially from the forward‐looking statements included herein. Factors that could cause actual results to differ from those expressed in forward‐looking statements include, without limita on, the risks and uncertain es described under the headings “Cau onary Note Regarding Forward‐Looking Statements” and “Risk Factors” in our Annual Report on Form 10‐K for the year ended January 1, 2023, filed by us with the Securi es and Exchange Commission (“SEC”) and described in the other filings we make from me to me with the SEC. We believe that these factors include, but are not limited to, the impact of pandemics, changes in consumer preferences, the impact of infla on, and our ability to execute on our omni‐channel business strategy. These forward‐looking statements are made only as of the date of this document, and we do not undertake any obliga on, other than as may be required by applicable law, to update or revise any forward‐looking or cau onary statement to reflect changes in assump ons, the occurrence of events, unan cipated or otherwise, or changes in future opera ng results over me or otherwise.


 
Exhibit 99.1  Investor Rela ons  ir@krispykreme.com    Corporate Media  media@krispykreme.com    Financial Media  Edelman Smithfield for Krispy Kreme, Inc.  Ashley Firlan & Ashna Vasa, KrispyKremeIR@edelman.com    ###