This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7175777.stm
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
Krispy Kreme boss to step down | Krispy Kreme boss to step down |
(about 20 hours later) | |
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. | 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%. | 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. | 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. | 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. | 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. | 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. |
Previous version
1
Next version