Filling doughnut holes.


Jim Morgan, often credited with turning around Winston-Salem-based Krispy Kreme Doughnuts since he was named CEO six years ago, has passed the baton to new leaders, some more versed in pepperoni than pastries. Tony Thompson, a former executive at Louisville, Ky.-based Papa Johns International who became CEO in June, is part of a management team in transition. Chief Financial Officer Douglas Muir will retire next year, and a search is underway for his replacement. The company this summer cut another executive job, held by 19-year veteran Bradley Wall, that oversaw supply-chain and off-premise operations. Earlier in the year, Krispy Kreme hired Daniel Beem, former president of Scottsdale, Ariz.-based Kahala Corp/s Cold Stone Creamery, as its international chief. Thompson told analysts in September that his priorities include selling more beverages, adding wholesale products that have longer shelf lives and improving technology. He gave few specifics except that the company will offer its first customer-rewards program by...

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