Krispy Kreme named Josh Charlesworth as president and Chief Executive Officer, effective January 1. Charlesworth brings decades of experience overseeing consumer brands, and most recently served as Krispy Kreme’s Global president and Chief Operating Officer after joining the company in 2017.
As part of the company’s succession plan, Charlesworth will succeed Michael Tattersfield, who has held the role since 2017 and led a significant expansion and transformation, resulting in revenue growing from $550 million in 2016 to more than an expected $1.6 billion in 2023. Tattersfield will remain on the Krispy Kreme Board, serve as a Senior Advisor and Krispy Kreme Ambassador, and continue to be a significant investor in the company.
“Today, we celebrate the transformation of Krispy Kreme under Mike’s leadership, as it grew from a complex, multi-product primarily-U.S. model to a more global, capital efficient hub-and-spoke omni-channel model, focused on delivering fresh, awesome doughnuts, all while nearly doubling the adjusted EBITDA of the business,” says Olivier Goudet, chairman of Krispy Kreme’s Board of Directors. “Mike re-ignited the iconic Krispy Kreme magic, and we are grateful he has decided to stay on the Board and be an ambassador for Krispy Kreme. At the same time, we are incredibly excited to appoint Josh to CEO as he has played a critical role in Krispy Kreme’s growth for the last six years and will now lead the company’s next chapter of success and value creation.”
“I couldn’t be happier to transition the CEO role to Josh,” says Tattersfield. “Transforming the Krispy Kreme brand and culture has been a highlight of my career, and I am truly grateful for our amazing Krispy Kremers who continue to inspire me. Josh’s shared passion for the brand, our Krispy Kremers, and freakin’ awesome doughnuts gives me the utmost confidence in our continued success and I look forward to watching all he’ll accomplish.”
Charlesworth has served in various Krispy Kreme leadership roles, including Chief Financial Officer, Chief Operating Officer, and Global president. He will now assume his new role during a strong period of growth at the company. Through the implementation of its growing omni-channel sales strategy and asset-light distribution model, Krispy Kreme has delivered four consecutive quarters of double-digit organic revenue growth while expanding its global reach. The company is also reaffirming full year 2023 guidance and continues to trend toward the middle to the higher end of the revenue and adjusted EBITDA ranges.
“The opportunity to lead such an incredible Krispy Kreme team is both an honor and a privilege,” says Charlesworth. “Together, we will continue to make fantastic, fresh doughnuts conveniently available to more and more consumers around the world. I want to thank Mike for the strong foundation he has built as we pursue our goal to become the world’s most loved sweet treat brand.”
