A Sweet Sendoff

January 8, 2008

images33.jpgAfter less than two years on the job, Daryl Brewster is out as Krispy Kreme’s (KKD) CEO. Though the company continues to struggle with its turnaround, Brewster won’t be struggling at all. This 8-K filed yesterday had the detail on Brewster’s goodbye goodies, including $700,000 in cash, $1.19 million in restricted stock, $628,000 in deferred compensation, and the possibility of a fiscal 2008 performance bonus.

While it’s not the most lucrative severance package we’ve ever seen, KKD’s stock performance during Brewster’s tenure didn’t call for much more than a goodbye box of doughnuts. Shares last traded at just $3.15, less than half of where they were when Brewster took the top spot.

Interestingly, KKD also announced yesterday that it had completely eliminated trans-fats from its menu. I guess that wasn’t the only fat they cut.

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