Struggling US doughnut chain Krispy Kreme has announced that it will pay its new chief executive and corporate recovery expert, Stephen Cooper, the standard hourly rate of $760 charged by his financial consulting group.
Link: Heads roll at Krispy Kreme
Krispy Kreme last week replaced former CEO Scott Livengood with Cooper, who oversaw the dismantling of Enron and is also chairman of restructuring firm Kroll Zolfo Cooper.
The company also said in a regulatory filing that it would pay Steven Panagos, its new president and chief operating officer, $695 an hour. Panagos is the head of Kroll Zolfo’s restructuring practice.
Krispy Kreme is still under informal investigation by the US Securities and Exchange Commission into its accounting irregularities, and has already warned that it may be forced to restate its 2004 pre-tax income figures by £4.3m.
‘The company is conducting discussions with the Commission staff regarding the staff’s inquiries concerning certain accounting matters, including certain of the matters giving rise to the adjustments described above,’ a statement said.
The numbers you crunch tell a story. Your expertis...
19yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleKPMG confirms reappointment of it's UK chair, while EY announces Janet Truncale as the next EY global chair and CEO Read More...
View articleThe ICAEW has announced the appointment of its forthcoming chief executive Read More...
View article