Krispy Kreme lets go of six officers in bid to fix image

WINSTON-SALEM, NC: Krispy Kreme Doughnuts terminated six corporate officers last week as part of its ongoing quest to restore its credibility with Wall Street following accounting irregularities and a depressed stock price.

WINSTON-SALEM, NC: Krispy Kreme Doughnuts terminated six corporate officers last week as part of its ongoing quest to restore its credibility with Wall Street following accounting irregularities and a depressed stock price.

The dismissed officers were not named, but the company said that they include four SVPs from the operations, finance, business development, and manufacturing and distribution divisions.

Five of the six resigned, and one retired on the recommendation of a special committee investigating the company's finances.

LaForce & Stevens, which has worked with Krispy Kreme for several years on entertainment, product, and other PR, handled media relations after the announcement.

In early January, the company announced that it would have to restate its financial reports for the past year. Soon after, it ousted CEO Scott Livengood.

Krispy Kreme brought in Gavin Anderson in January to help it with its financial crisis communications. Montieth Illingworth, head of Gavin Anderson's New York office, declined to say whether the agency was still working with the company.

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