US Doughnut retailer Krispy Kreme Doughnuts has said it has restructured its board and appointed its financial officer as chief governance officer.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more


The company said the decision to restructure the board followed a commitment made last year by chairman, president and CEO Scott Livengood to change the board’s composition to assure that fully independent directors comprised the majority of voting members of the board.


In a related development, the company announced the appointment of Randy Casstevens as chief governance officer. Krispy Kreme said it would begin an immediate search to replace Casstevens as chief financial officer.


The restructuring included the resignation from the board of directors of Frank E. Guthrie, Robert L. McCoy and Steven D. Smith, who will all be appointed as non-voting emeritus directors. Another Krispy Kreme franchisee and board member, Joseph A. McAleer, retired from the board.


The Company also announced the appointment of Erskine Bowles and Dr. Su Hua Newton to the board. The newly composed board is now comprised of seven independent and two inside board members.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

 

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now