John N. "Jack" McAleer, Krispy Kreme's executive vice president, retired last week after 24 years with the company. McAleer, the son of a Krispy Kreme mega-franchisee who bought the company in 1981, follows six other executives that left Krispy Kreme in the last three months. Although the company's spokeswoman could not be reached for comment about McAleer's departure, some speculate that McAleer's decision to retire may be linked to the SEC's investigation into Krispy Kreme's accounting practices and the company's internal probe, which resulted in the discharge of six executives in June.
Posted by franchiselawblog at September 19, 2005 06:41 PM