Krispy Kreme: elects new Chief Executive Officer

Winston-Salem / NC. (kkd) Krispy Kreme Doughnuts, Inc. announced that its Board of Directors has elected the Company´s Chairman of the Board, James H. Morgan (60) to the additional positions of President and Chief Executive Officer. Morgan´s election is not an interim appointment, and it is anticipated that he will serve as President and Chief Executive Officer for the foreseeable future. Morgan has been a director of the Company since July 2000 and was elected Chairman of the Board in January 2005. He brings over 25 years of management experience to the Company, including his most recent role as Chairman and Chief Investment Officer of Covenant Capital, LLC, an investment management firm which he founded. Morgan has replaced Daryl G. Brewster, the Company´s outgoing President and Chief Executive Officer, who has resigned from the Company for personal reasons. Brewster will remain as an employee of the Company until the end of January and be available to assist in the transition.