WINSTON-SALEM, N.C. -- Krispy Kreme Doughnuts Inc. named Jeff Jervik the company's executive vice president of operations effective immediately. Jervik will report directly to Steve Panagos, president and COO of Krispy Kreme, and will be responsible for all company-owned operations, franchisee operations and wholesale operations.
Prior to joining Krispy Kreme, Jervik served as national vice president of operations for Pizza Hut Inc., where he was responsible for the operations of more than 1,000 Pizza Hut restaurants with sales of approximately $800 [image-nocss] million and more than 25,000 employees. Most recently, Jervik owned and operated a chain of Papa John's restaurants in Hawaii, where he expanded from inception to become one of the top two pizza chains in the state.
"We are very pleased to have someone with Jeff's extensive operational background join the Krispy Kreme team," said Panagos. "Jeff represents a further step in providing leadership for our operations team. With his extensive background in implementing profitable franchisee growth strategies and improving underperforming operations, we are confident that Krispy Kreme will benefit greatly from Jeff's expertise."
Separately, the company announced that the Executive Search Committee of the Board of Directors is working with James Mead & Co., an executive-search firm to assist in the search for a permanent CEO. The board and Executive Search Committee look to identify and retain a CEO as soon as possible.
Krispy Kreme also announced that Frank Murphy, the company's General Counsel, will be retiring effective December 1, 2005. In order to ensure a smooth transition, Murphy will serve as an advisor to the Board of Directors and the company. The company will initiate a search for Mr. Murphy's successor.
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