Josh Charlesworth named Krispy Kreme CEO, effective January 1, 2024 (Photo: Business Wire)
Krispy Kreme has promoted an insider to the top spot.
The doughnut and coffee retailer named Josh Charlesworth as president and CEO, effective January 1, 2024. He will succeed Michael Tattersfield, who has held the role since 2017 and will remain on the board and serve as a senior advisor and Krispy Kreme “ambassador.”
Charlesworth, who joined the company in 2017, most recently served as global president and COO. Prior to that, he was CFO.
Before joining Krispy Kreme, Charlesworth spent nearly 15 years with Mars, including serving as CFO and VP global chocolate.
“I couldn’t be happier to transition the CEO role to Josh,” said Tattersfield, who will continue to be a significant investor in the company. “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.”
Tattersfield led a significant expansion and transformation of Krispy Kreme, resulting in revenue growing from $550 million in 2016 to more than an expected $1.6 billion in 2023, the company said in a release.
"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,” said Olivier Goudet, chairman. “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.”
Based in Charlotte, N.C., 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.