Charlotte-based doughnut giant Krispy Kreme has promoted a new leader as the company continues to expand.
Josh Charlesworth will succeed Michael Tattersfield as president and chief executive officer, effective Jan. 1, the company said in a news release Monday.
Charlesworth has served in several leadership roles, most recently as global president and chief operating officer. He joined Krispy Kreme six years ago.
Tattersfield, who has been CEO since 2017, will remain on the Krispy Kreme board as senior advisor and ambassador, as well as an investor in the company, according to the company. He led Krispy Kreme through a global expansion that resulted in revenue growth from $550 million in 2016 to more than an expected $1.6 billion this year.
What’s ahead for Krispy Kreme
Krispy Kreme sells more than 1.5 billion doughnuts a year, and half are overseas. “It’s truly a global business based out Charlotte,” Charlesworth told The Charlotte Observer on Monday.
Krispy Kreme’s rapid growth — tripling in size over the past six years — includes a goal of opening in three to five countries a year, Tattersfield said Monday.
That growth includes selling daily-made doughnuts in grocery and convenience stores, and through partnerships such as market testing at McDonald’s in Kentucky.
“The strategy is to get to more and more places,” Charlesworth said. “We’ve learned that there’s so many more places that we can get those doughnuts to people.”
And, Krispy Kreme is planning to debut in more U.S. markets, such as New England.
“We’re growing fast, but there’s a lot of growth ahead of us,” Charlesworth said.
About Krispy Kreme
The 84-year-old doughnut company best known of its “Hot Now” glazed doughnuts started in Winston-Salem.
Four years ago, Krispy Kreme moved its corporate offices and test kitchen to Charlotte’s South End at 2116 Hawkins St.
In May, Krispy Kreme permanently closed its Concord facility, resulting in 102 job cuts. The company said it is focusing on its fresh daily doughnut business instead of re-packaged doughnuts for snack aisles that launched in 2020.
Krispy Kreme made Newsweek’s “World’s Most Trustworthy Companies 2023” list this month, based on the confidence of customers, investors and employees.
The publicly-traded chain operates in over 30 countries with recent franchise expansions in Chile, Costa Rica, Jordan and Switzerland. Krispy Kreme also will debut in Paris, France, by the end of this year.
Krispy Kreme has over 20,000 employees worldwide.