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Shake-up at Krispy Kreme continues: CFO, vice chairman say they will leave in June; analysts say more changes on the way.
Byline: M. Paul Jackson
Apr. 25--A top-level management turnover continued yesterday at Krispy Kreme Doughnuts Inc., with its chief financial officer and vice chairman saying they will leave in June.
The company, based in Winston-Salem, said that Michael Phalen will leave his post as chief financial officer June 5 to return to investment banking. Douglas Muir, the company's chief accounting officer, will replace Phalen.
The company also said that Robert Strickland, its vice chairman, will retire from the company's board of directors June 4. Strickland served on the board for more than eight years and became its vice chairman in 2005.
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