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Krispy Kreme Doughnuts has announced the appointment of Michael Sutton and Lizanne Thomas to its Board of Directors.
Sutton and Thomas will co-chair a newly formed special committee to investigate, among other things, the Securities and Exchange Commission's inquiry into Krispy Kreme's franchise reacquisitions and the Company's previously announced reduction in earnings guidance. While serving on the special committee, Sutton and Thomas are not expected to serve on any other committee of the Board of Directors.
These additions bring Krispy Kreme's total Board membership to eleven and the number of independent directors to nine.
Michael Sutton was Chief Accountant of the United States Securities and Exchange Commission from 1995 to 1998. Prior to holding the office of Chief Accountant, Mr. Sutton was a senior partner of Deloitte & Touche.
Lizanne Thomas is a senior corporate partner in the Atlanta office of Jones Day, where she also serves as Firmwide Administrative Partner.