Krispy Kreme (NASDAQ: DNUT) CPO to retire as board member exits
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Krispy Kreme, Inc. announced leadership changes involving its Chief People Officer and a board member. Chief People Officer Theresa Zandhuis has decided to retire from all positions with the company and its subsidiaries, effective on or around March 31, 2026, and will assist with an orderly internal succession.
In connection with a planned separation agreement, she is expected to receive 12 months of base salary totaling $550,000, 12 months of COBRA coverage premiums grossed up for taxes, and pro-rata vesting through the effective date of certain outstanding equity awards, excluding a retention award granted on July 14, 2025, which will be forfeited. Her vested stock options, including those vesting as described, have an exercise price of $14.61 and will expire 90 days after the effective date. Separately, director Gordon von Bretten resigned from the Board effective immediately following his appointment as President of Coty Inc.’s Consumer Beauty division, and his resignation is stated not to result from any disagreement with the company or the Board.
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8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM 8-K
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CURRENT REPORT
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 29, 2026, Krispy Kreme, Inc. (the “Company”) received notice from Theresa Zandhuis, Chief People Officer, of her decision to retire from all positions with the Company and its subsidiaries, effective on or around March 31, 2026 (the “Effective Date”). The Company wishes Ms. Zandhuis well in her retirement and thanks her for laying the groundwork for a thoughtful and orderly internal succession.
In consideration for her agreement to remain in her current role through the Effective Date and to be bound by customary restrictive covenants and a release of claims in favor of the Company, the Company expects to enter into a separation agreement with Ms. Zandhuis pursuant to which she will be entitled to (i) 12 months of base salary, equal to $550,000, (ii) 12 months of COBRA coverage premiums, grossed up for taxes, and (iii) pro-rata vesting through the Effective Date of certain of her outstanding equity awards, excluding the retention award granted on July 14, 2025, which will be forfeited. Ms. Zandhuis’s vested stock options, including those that will vest as described above, have an exercise price of $14.61 and will expire 90 days from the Effective Date.
On January 31, 2026, the Company received notice from Gordon von Bretten of his decision to resign from the Company’s Board of Directors (the “Board”), effective immediately. Mr. von Bretten’s decision comes after his recent appointment as President of Coty Inc.’s Consumer Beauty division and is not the result of any disagreement with the Company or the Board.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
KRISPY KREME, INC.
Dated: February 4, 2026
By: /s/ Joshua Charlesworth
| Name: | Joshua Charlesworth | ||||
| Title: | Chief Executive Officer | ||||
FAQ
What leadership changes did Krispy Kreme (DNUT) disclose in this 8-K?
Krispy Kreme disclosed the planned retirement of Chief People Officer Theresa Zandhuis effective on or around March 31, 2026, and the immediate resignation of director Gordon von Bretten. His departure followed a new executive role at Coty Inc. and was not due to any disagreement.
What severance is Krispy Kreme’s Chief People Officer expected to receive?
Theresa Zandhuis is expected to receive 12 months of base salary totaling $550,000, plus 12 months of COBRA coverage premiums grossed up for taxes. She will also receive pro-rata vesting of certain equity awards through her effective retirement date, subject to a separation agreement.
How are Theresa Zandhuis’s Krispy Kreme equity awards treated at retirement?
Certain outstanding equity awards will vest on a pro-rata basis through the effective date of her retirement, while her July 14, 2025 retention award will be forfeited. Her vested stock options have a strike price of $14.61 and expire 90 days after that date.
Why did Krispy Kreme director Gordon von Bretten resign from the Board?
Gordon von Bretten resigned from Krispy Kreme’s Board after his appointment as President of Coty Inc.’s Consumer Beauty division. The company states that his resignation is not the result of any disagreement with Krispy Kreme or its Board of Directors.
When will Krispy Kreme’s Chief People Officer retirement become effective?
Chief People Officer Theresa Zandhuis plans to retire effective on or around March 31, 2026. She agreed to remain in her current role until that date to support a thoughtful and orderly internal succession process within Krispy Kreme and its subsidiaries.
What happens to Theresa Zandhuis’s Krispy Kreme stock options after retirement?
Theresa Zandhuis’s vested Krispy Kreme stock options, including those vesting pro-rata through her retirement date, carry an exercise price of $14.61. These options will remain exercisable for 90 days following the effective date of her retirement from the company.