Krispy Kreme
Doughnuts, Inc. today announced that its board of directors
elected Daryl G. Brewster to the position of president and chief executive
officer, effective immediately. Brewster, who most recently served as
president of Kraft’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 of directors.

“I am honored to be joining Krispy Kreme at this very important time in
the Company’s history,” Brewster says. “Krispy Kreme has made steady
progress in its turnaround and I am confident that it has a solid future of
growth and profitability.”
realigned the organization to focus on profitability and growth.”
Former CEO Stephen Cooper, chairman of Kroll Zolfo Cooper, LLC (“KZC”), 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 COOO, will
also remain with the company during this transition period in the position of
Director of Restructuring.

New CEO Brewster is a 23-year veteran of the food business. As president of Kraft’s North American Snacks & Cereals Sector, he was accountable for divisional revenue
of more than $6 billion and was supported by 20,000 employees. From 2000 to
mid-2002, Brewster served as president of the Nabisco Biscuit Company. Brewster then took on
international responsibilities for Kraft, serving as president of Canadian,
Mexican and Puerto Rican operations, before assuming his last role in late 2003.

Brewster serves on the board of directors of E*Trade and has served on the board of directors of the American Marketing
Association as well as the Biscuit and Crackers Manufacturer’s Association.