Krispy Kreme names new CFO, nominates Lynn to board

WINSTON-SALEM N.C. In the midst of working on a turnaround, Krispy Kreme Doughnuts Inc. announced Tuesday the resignation and replacement of its chief financial officer and general counsel and changes to its board of directors.

The company's chief financial officer, Michael C. Phalen, has resigned his post effective June 5 to return to investment banking, the company said. Phalen will be replaced by Douglas R. Muir, Krispy Kreme's chief accounting officer.

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