Krispy Kreme Doughnuts Inc. said Monday it has named former FedEx executive Kenneth A. May president and chief operating officer.
May will report to chief executive James H. Morgan and will assume responsibility for all of Krispy Kreme’s operating segments, which include restaurants and retail, both company-owned and franchised. Morgan had served as Krispy Kreme’s president since 2008.
A company spokesman for the Winston-Salem, N.C.-based Krispy Kreme said Morgan and the senior management team created the president/COO role after identifying a need for the position to focus on the company’s operating segments on a daily basis.
“There was considerable interest in this opportunity, and it was critical that we seek out someone with a unique combination of big brand experience, retail customer engagement, proficiency in delivering quality products and services, an understanding of complex logistical operations, and familiarity with both domestic and international operations,” Morgan said in a statement. “We were able to find all of those qualifications in Ken May.”
May has more than 25 years of operational, retail, supply chain and brand experience, the company said. He most recently served as president of ES3, a logistics company focused on supply chain operations for manufacturers and retailers. He previously served as president and chief executive of FedEx Kinko’s Office and Print Centers, and led the merger of Kinko’s and FedEx. Prior to that role, he held positions at FedEx including senior vice president of U.S. operations for FedEx Express.
May was formerly a board member of P.F. Chang’s China Bistro Inc. and the national chairman of the board for the March of Dimes in 2010.
“Being invited to join Krispy Kreme and be a part of taking this iconic brand to the next level is a once-in-a-lifetime opportunity,” May said. “I am delighted to be here, and look forward to contributing to Krispy Kreme’s ongoing success and development.”
Krispy Kreme operates or franchises more than 675 units in 21 countries. It booked $362 million in annual revenue for its latest year ended Jan. 30, compared with $346.5 million in the previous year. The company also swung to a profit in its latest year, booking net income of $7.6 million compared with a net loss of $157,000 in the prior fiscal year.
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