Krispy Kreme Doughnuts, Inc. announced the promotion of John Tate to the position of chief operating officer. Tate joined Krispy Kreme in October 2000 as chief financial officer and president of Krispy Kreme manufacturing and distribution. His background prior to joining Krispy Kreme has included a variety of financial and general management positions at consumer products companies such as Dole Food Company, PepsiCo, and Williams Sonoma, Inc., as well as several international assignments.
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The company also announced the promotion of Randy Casstevens to the position of senior vice president and chief financial officer. Casstevens joined Krispy Kreme in 1993 as corporate controller. He was instrumental in the company’s IPO in April 2000 as well as its secondary offering in February 2001. Prior to joining Krispy Kreme, Casstevens worked in the audit practice of PricewaterhouseCoopers, LLP for six years.
Finally, the company announced the promotion of Sherry Luper to the position of senior vice president of human resources. Luper joined Krispy Kreme last year as vice president of recruitment and training, having most recently run her own business. Luper also directed recruitment and training at Inmar Enterprises. Prior to that she worked for PricewaterhouseCoopers, LLP for 10 years in various human resource roles.
In commenting on these promotions, Scott Livengood, chairman, president, and CEO said, “We continue to prepare for extraordinary growth and expansion. The promotion of John Tate to chief operating officer reflects John’s extensive background in general management and international operations. In concert with the recent addition of Steve Gorman as president of North America, this move prepares us to fully exploit our four major growth initiatives over the next several years. These include continued build-out of our domestic market; successful launch of international development; the rapid and effective rollout of an expanded beverage offering; and the development and rollout of our doughnut and coffee shop concept which allows more effective penetration of dense urban areas, smaller markets and other previously inaccessible venues.
“I am very excited about the promotion of Randy Casstevens to the position of chief financial officer. Not only has Randy worked closely with John this past year in communicating with the investment community, he was also an integral part of Krispy Kreme’s preparation to become a public company in the execution of the initial public offering as well as our recent, highly successful secondary offering.
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By GlobalData“Sherry’s promotion, after a relatively short time with Krispy Kreme, is recognition of her considerable talent and rapid assimilation into our company. Her extensive experience in human resources from significantly larger organizations will be an invaluable asset as we continue the effort to develop the human resource talent we will need to support company growth.
“In summary, I believe these changes in responsibility, in concert with the recent staff additions we have made, prepare us to execute the challenges of rapid growth which lie immediately ahead.”
