Krispy Kreme Names Raphael Duvivier as New CFO, Announces Retention Grants and Cash Bonus Opportunity

Krispy Kreme has appointed Raphael Duvivier as its new CFO, effective July 11, 2025. The company has also approved retention grants for key executives and a new cash bonus opportunity for the second half of 2025. The appointment aims to strengthen leadership stability and align performance incentives with company goals.

Krispy Kreme, Inc. has appointed Raphael Duvivier as its new Chief Financial Officer (CFO), effective July 11, 2025. This appointment aims to strengthen the company's financial leadership and align performance incentives with its strategic goals. Duvivier will succeed Jeremiah Ashukian, who decided to leave the company to pursue an opportunity with a private company.

Duvivier, who has been with Krispy Kreme since 2019, has held various leadership roles, including President, International, and Chief Development Officer. He brings over 20 years of global experience in finance, strategy, and operations. According to Josh Charlesworth, Krispy Kreme's CEO, "Raphael has been a respected leader at Krispy Kreme for over six years, and his deep understanding of the Company coupled with his strong finance background will enable a smooth transition as we focus on achieving sustainable, profitable growth" [1].

In addition to the CFO appointment, Krispy Kreme has also approved retention grants for key executives totaling approximately $2.35 million in stock options and awards. The company has also introduced a new cash bonus opportunity for the second half of 2025. These measures aim to enhance leadership stability and align executive compensation with company performance [5].

The appointment of Duvivier comes amid recent financial challenges for Krispy Kreme. The company reported declining sales in May and ended its partnership with McDonald's due to profitability concerns. Shares have lost roughly two-thirds of their value since the start of the year. Despite these challenges, Krispy Kreme remains focused on U.S. expansion through high-volume retail points of distribution and capital-light international franchise growth [2][4].

References:
[1] https://www.qsrmagazine.com/news/krispy-kreme-appoints-raphael-duvivier-cfo/
[2] https://finance.yahoo.com/news/krispy-kreme-announces-cfo-amid-140724902.html
[3] https://www.restaurantdive.com/news/krispy-kreme-chief-financial-officer-chief-brand-officer-mcdonalds-deal/752303/
[4] https://www.investing.com/news/company-news/krispy-kreme-names-raphael-duvivier-as-new-cfo-93CH-4122508
[5] https://www.stockinsights.ai/us/DNUT/8-K/management-changes-20250707-65f