Krispy Kreme has named Raphael Duvivier as its chief financial officer, effective July 11, according to a press release. He replaces Jeremiah Ashukian, the current CFO, who is leaving on that date to work at a private company.
Duvivier is currently serving as president, international and has worked at Krispy Kreme since 2019. He has also worked as chief development officer and segment chief financial and strategy officer, international. Prior to Krispy Kreme, he held various positions in global finance, development and operations at Restaurant Brands International.
The company did not immediately respond to a request to clarify if Duvivier would continue serving in his current capacity while also working as CFO.
“[Duvivier’s] deep understanding of the Company coupled with his strong finance background will enable a smooth transition as we focus on achieving sustainable, profitable growth,” Josh Charlesworth, Krispy Kreme’s CEO, said in a statement.
Ashukian informed the company of his intent to leave on June 27, as did Chief Growth Officer David Skena, according to an 8-K filed with the Securities and Exchange Commission last week.
The two executives informed the company of their impending departures only a few days after the doughnut maker acknowledged that it was suspending its partnership with McDonald’s.
Krispy Kreme did not immediately respond to a request to clarify if Ashukian and Skena’s departures were precipitated by the implosion of its McDonald’s partnership.
Skena’s responsibilities will be taken on by Alison Holder, who is being promoted from chief product officer to chief product and brand officer. In this expanded role, Holder will oversee the brand’s global marketing efforts.
Charlesworth said the company’s current strategy hinges on “U.S. expansion through high-volume retail points of distribution and capital-light international franchise growth.”
