Krispy Kreme Names New CEO

    Industry News | March 7, 2006
    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.

    News and information presented in this release has not been corroborated by WTWH Media LLC.