Krispy Kreme restructures its leadership hierarchy
Krispy Kreme, the beloved doughnut chain, has undergone significant changes in its executive team following the departures of its Chief Financial Officer (CFO) and Chief Growth Officer. The new appointments aim to steer the company towards more profitable growth and stabilize its financial and operational challenges.
Raphael Duvivier, who previously held the position of President, International, has been promoted to the role of CFO, effective July 11, 2025. He steps in for Jeremiah Ashukian, who left the company to join a private firm. Duvivier's extensive experience with Krispy Kreme, which spans back to 2019, includes holding positions as chief development officer and chief financial and strategy officer, international.
Alison Holder, who has been with Krispy Kreme for 25 years and previously served as senior director of consumer insights, has been elevated to the role of Chief Brand and Product Officer. In this new role, effective July 11, 2025, she assumes responsibility for global marketing initiatives and replaces David Skena, the former Chief Growth Officer, who departed to pursue another opportunity. Holder's tenure with the company spans 25 years.
These changes are part of a broader leadership overhaul aimed at modernizing the company. CEO Josh Charlesworth expressed confidence in Duvivier, Holder, and the rest of the team to help Krispy Kreme pursue U.S. expansion through high-volume retail points of distribution and capital-light international franchise growth.
The changes come at a time when Krispy Kreme is grappling with falling sales and profitability in the first quarter of the year. The company's stock has also taken a hit, with a 67% decrease this year and an 80% drop since its 2021 Initial Public Offering (IPO).
In addition to these executive changes, Krispy Kreme has added four new members to its board of directors. The company's expansion strategy has shifted towards more profitable growth, as it aims to navigate the current challenges and position itself for future success.
[1] - Source: Krispy Kreme press release, July 11, 2025 [2] - Source: Business Insider, July 12, 2025 [3] - Source: Reuters, July 12, 2025 [4] - Source: The Wall Street Journal, July 12, 2025
- The appointment of Raphael Duvivier as CFO and Alison Holder as Chief Brand and Product Officer at Krispy Kreme signifies a move towards modernizing the restaurant business, with a particular focus on finance, as Duvivier has a wealth of experience in financial and strategy roles.
- In an effort to improve its financial and operational challenges, Krispy Kreme has also expanded its board of directors and shifted its expansion strategy towards more profitable growth, utilizing technology to navigate current challenges and position itself for future success in both business and market growth.
