Management shuffle Edit
On January 18, 2005, Krispy Kreme announced Stephen Cooper, chairman of financial consulting group Kroll Zolfo Cooper LLC, as interim CEO, succeeding Scott Livengood who retired as chairman, president, CEO and a director. The company also named Steven Panagos, a managing director of Kroll Zolfo, as president and COO.[17]
A turnaround plan in December 2005 aimed to close unprofitable stores in order to avoid bankruptcy.