KRISPY KREME CEO RESIGNS
Healthy trend led to decline in sales of snack foods which have lots of sugar or full of carbohydrates. Thus, the CEO of KRISPY KREME who failed to improve the sales performance of the food chain resigned after two years.This is what they failed to anticipate when people are already complaining about obesity among children.
Here is the news from BBC.
Krispy Kreme Doughnuts boss Daryl Brewster has resigned for personal reasons after less than two years in the job.
His decision to step down comes as efforts to turn around the struggling snack food chain have stalled.
Investors welcomed news of Mr Brewster's resignation, sending Krispy Kreme shares up more than 10%.
Healthier eating trends have led to declining sales and widening losses at the glazed doughnut chain.
Competition from rival Dunkin' Donuts and franchisees filing for bankruptcy have also damaged Krispy Kreme.
Mr Brewster joined the firm in 2006 from Kraft Foods and will be replaced by the current chairman, James Morgan, at the end of January.
Under Mr Brewster's watch, Krispy Kreme has lost nearly 57% of its value - it fell as low as $2.50 a share in December.
In afternoon trade on Wall Street, its shares were up 9.54% at $3.10.
Labels: CEO
posted by cathy at 4:16 PM
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