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Last Updated: Monday, 7 January 2008, 20:19 GMT
Krispy Kreme boss to step down
Daryl Brewster, former CEO of Krispy Kreme
Krispy Kreme stock rose on news of Mr Brewster's resignation
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.



SEE ALSO
Krispy Kreme sees woes continue
07 Sep 07 |  Business
Krispy Kreme down on result delay
28 Nov 05 |  Business
Krispy Kreme dumps six top bosses
21 Jun 05 |  Business
Boss' departure aids Krispy Kreme
18 Jan 05 |  Business
Krispy Kreme shares take dunking
04 Jan 05 |  Business
Krispy Kreme in new sticky mess
22 Nov 04 |  Business

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