Charlotte-based Krispy Kreme has named Raphael Duvivier as its chief financial office, effective July 11. He joined the doughnut company in January 2019 and has been president of its international operations based in London since January. He succeeds Jeremiah Ashukian, who joined the company in January 2023 as vice president and CFO, after previously working 21 years for candy maker Mars.
Ashukian is leaving the company to work for another, unnamed private company.
Duvivier has held several international leadership roles since joining Krispy Kreme. He previously held various senior leadership positions in global finance, development, and operations at Restaurant Brands International. Prior to that, he held leadership positions at Opus Investimentos. Duvivier has more than 20 years of global experience across finance, strategy, and operations.
Duvivier holds a bachelor’s degree in industrial engineering from the Pontifícia Universidade Católica do Rio de Janeiro, Brazil, and an MBA from INSEAD.
Duvivier is the company’s third CFO since June 2022. Current CEO Josh Charlesworth was CFO from 2017 until 2022. Krispy Kreme ended its partnership to sell its doughnuts in McDonald’s restaurants on Wednesday after less than a year. Krispy Kreme shares closed Thursday at $3.32, down about 3.5% on the day and down 66.5% since Jan. 1.
Additionally, Chief Product Officer Alison Holder has been promoted to Chief Brand and Product Officer, effective July 11, assuming responsibility for the company’s global marketing initiatives. Holder has more than 25 years of experience with Krispy Kreme, including 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 decided to leave the Company to pursue another opportunity.
Holder has a degree from High Point University.