WINSTON-SALEM, N.C. -- Krispy Kreme Doughnuts Inc. said that its board has elected Daryl G. Brewster to the position of president and CEO, effective immediately.
Brewster, who most recently served as President of Kraft Food Inc.'s $6 billion North America Snacks & Cereals sector, will replace Stephen F. Cooper, who has served as Krispy Kreme's CEO on an interim basis since January 2005. Brewster also will serve as a member of Krispy Kreme's board.
Throughout his distinguished career, Daryl has developed extensive knowledge, [image-nocss] both domestically and internationally, in the areas of brand development, business strategy, sales and marketing and distribution, James H. Morgan, Krispy Kreme's chairman. He brings with him not only a wealth of practical know-how, but also a solid understanding of the opportunities, as well as the challenges, currently facing Krispy Kreme.
He added, Krispy Kreme has made significant strides in its turnaround and today's announcement represents yet another step forward for the company. Over the past 13 months, we have strengthened our management team, effected successful franchise and operational restructurings, and realigned the organization to focus on profitability and growth.
Cooper, Chairman of Kroll Zolfo Cooper LLC, will remain with Krispy Kreme during an interim transition period, serving as the company's Chief Restructuring Officer. Steven G. Panagos, Managing Director of KZC, who has been serving as Krispy Kreme's president and COO, will also remain with the company during this transition period in the position of director of restructuring.
Brewster is a 23-year veteran of the food business and has been with Kraft Foods/Nabisco since 1997. As president of Kraft's North American Snacks & Cereals sector, Brewster was accountable for divisional revenue of over $6 billion and was supported by 20,000 employees. From 2000 to mid-2002, Brewster was president of the Nabisco Biscuit Co. Brewster then took on international responsibilities for Kraft, serving as president for Canada, Mexico and Puerto Rico before assuming his current role in late 2003. Prior to Nabisco Biscuit, Brewster served as president of Nabisco's Planters & Specialty Foods Co. for five years after a successful period with the Campbell Soup Co., both domestically and internationally.
Winston-Salem, N.C.-based Krispy Kreme is a leading branded specialty retailer of premium quality doughnuts. There are currently approximately 320 Krispy Kreme stores and 80 satellites operating systemwide in 43 U.S. states, Australia, Canada, Mexico, the Republic of South Korea and the United Kingdom.Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.