WINSTON-SALEM, N.C.--The board of Krispy Kreme Doughnuts Inc. has elected the company's chairman, James H. Morgan, 60, to the additional positions of president and CEO. Morgan's election is not an interim appointment, and the company said it anticipates that he will serve as president and CEO "for the foreseeable future."
Morgan has replaced Daryl G. Brewster, the company's outgoing president and CEO, who has resigned from the company for personal reasons.
Morgan has been a director of the company since July 2000 and was elected [image-nocss] chairman in January 2005. He brings more than 25 years of management experience to the company, including his most recent role as chairman and chief investment officer of Covenant Capital LLC, an investment management firm that he founded. Previously, Morgan served as chairman and CEO of Interstate/Johnson Lane, an investment banking and brokerage firm, which was acquired by Wachovia Corp. in 1999. After the acquisition, Morgan served as chairman and CEO of Wachovia Securities Inc.
Brewster will remain as an employee of the company until the end of January and be available to assist in the transition.
Meanwhile, Winston-Salem, N.C.-based Krispy Kreme has announced that all Krispy Kreme products sold in the United States now have zero grams trans fat.
"Krispy Kreme's [R&D] team has worked diligently for quite some time to offer zero grams trans fat products that deliver the one-of-a-kind Krispy Kreme taste that people have loved for generations," said Stan Parker, Krispy Kreme's senior vice president of marketing. "We've been piloting zero grams trans fat products across the country for the past several months and have received an overwhelmingly positive response."
Through the Friends of Krispy Kreme program, an online group of Krispy Kreme fans who receive special Krispy Kreme promotional offers and provide feedback on new Krispy Kreme products, the company knew that reducing trans fat from daily diets had been on their customers' minds.
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