Krispy Kreme on Thursday named Raphael Duvivier as its new CFO, succeeding Jeremiah Ashukian, who is leaving the company to pursue an opportunity with a private company.

Krispy Kreme, previously known as Krispy Kreme Doughnuts, is an American multinational doughnut company and coffeehouse chain. (Photo by Mike Kemp/In Pictures via Getty Images)

Ananya Mariam Rajesh·Stocktwits

Published Jul 03, 2025 | 9:29 AM GMT-04

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Doughnut chain Krispy Kreme (DNUT) on Thursday named Raphael Duvivier its current international division president as the new chief financial officer, succeeding Jeremiah Ashukian.

Krispy Kreme shares were up 1% in premarket trading on Thursday. The stock has fallen 65% year-to-date.

Ashukian is leaving Krispy Kreme to pursue an opportunity with a private company, with Duvivier taking on the role as finance chief effective July 11.

Duvivier joined Krispy Kreme in 2019 and has held multiple leadership roles, including chief financial and strategy officer of the international division and chief development officer.

Before joining the company, he worked in senior leadership positions in global finance, development, and operations at Restaurant Brands International (QSR).

Krispy Kreme also announced that its Chief Product Officer, Alison Holder, has been promoted to Chief Brand and Product Officer, effective July 11, and will assume responsibility for the company’s global marketing initiatives.

Holder has over 25 years of experience with the doughnut chain, including roles such as senior director of consumer insights, and has led brand marketing, innovation, research & development, and manufacturing services.

She succeeds Chief Growth Officer David Skena, who has also decided to leave to pursue another opportunity, the company said.

Last week, McDonald's (MCD) and Krispy Kreme announced that they would end their partnership effective this week. Krispy Kreme CEO Josh Charlesworth called the partnership "unsustainable" for the doughnut company.

The termination was expected mainly after Krispy Kreme in April said it was reassessing the partnership, which was struck in March last year.

The retail sentiment on Krispy Kreme was ‘extremely bullish’ on Thursday, compared to ‘neutral’ a week ago.

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