Krispy Kreme taps chair as president, CEO

WINSTON-SALEM, N.C., Jan. 7 (UPI) -- The Krispy Kreme Doughnuts board of directors elected its chairman to the posts of president and chief executive of the Winston-Salem, N.C., doughnut-maker.

James H. Morgan will replace Daryl Brewster. Morgan's election to the dual roles is not on an interim basis, the company said, and he will serve in the two capacities for the foreseeable future, the Winston-Salem (N.C.) Journal reported Monday.

Brewster, who resigned for personal reasons, will remain as an employee of the company until the end of January, as well as be available to assist in the transition, the company said.

Morgan has been a director on Krispy Kreme's board since July 2000 and was elected chairman in January 2005.