Shares of Krispy Kreme Inc.
DNUT,
slumped 1.6% toward a six-week low in premarket trading Monday, after the donut seller said Chief Executive Michael Tattersfield will step down from the role at the end of the year, after about 7 years in the role. He will be succeeded, effective Jan. 1, by current Chief Operating Officer Josh Charlesworth. Tattersfield will remain on the company’s board of directors and serve as a senior advisor and as Krispy Kreme Ambassador. The company said Tattersfield will also continue to be a “significant investor” in the company; he is currently the eighth-largest shareholder, according to FactSet data. The stock, which is on track to open at the lowest price seen since Aug. 11, has dropped 10.4% over the past three months through Friday, while the S&P 500
SPX,
has slipped 0.7%.
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