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Krispy Kreme Lawyer Leaving

The company also starts a permanent CEO search.
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Krispy Kreme


named a new operating executive and said its general counsel would depart.

Krispy named former Pizza Hut exec Jeff Jervik executive vice president of operations. He'll report to operating chief Steve Panagos.

Krispy Kreme, which is the subject of government scrutiny and shareholder lawsuits over past management's accounting practices, said general counsel Frank Murphy will retire effective Dec. 1.

The struggling Winston-Salem, N.C., doughnut chain also said the executive search committee of its board is working with search firm James Mead & Co. to find a permanent CEO. The company said it hopes to identify and retain a CEO as soon as possible.

Krispy hired Steve Cooper of turnaround firm Kroll Zolfo Cooper as its interim CEO in January. Panagos is also associated with Kroll Zolfo.

On Thursday, Krispy shares fell 51 cents to $4.05.