Krispy Kreme, Morgan Stanley and Sherwin-Williams welcome new CEOs in new year

Several prominent companies will ring in the new year with a new CEO who officially assumes the role on New Year’s Day.

Corporate succession planning can be a tumultuous process, and the changing of the calendar year presents a straightforward opportunity for a company’s new leadership to hit the ground running from the outset of the year.

Krispy Kreme, Morgan Stanley and Sherwin-Williams are among the notable companies that will have new chief executives take the helm effective Jan. 1, 2024. Here’s a look at the three freshly minted CEOs.

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Krispy Kreme

Popular doughnut chain Krispy Kreme is welcoming Josh Charlesworth as the new president and CEO of the company. Charlesworth takes over from Michael Tattersfield, who served as CEO from 2017 through 2023 and will remain on the company’s board as a senior adviser and brand ambassador as part of Krispy Kreme’s succession plan.

Tattersfield said in a press release he “couldn’t be happier to transition the CEO role to Josh” and added: “Transforming the Krispy Kreme brand and culture has been a highlight of my career, and I am truly grateful for our amazing Krispy Kremers who continue to inspire me. Josh’s shared passion for the brand, our Krispy Kremers, and freakin’ awesome doughnuts gives me the utmost confidence in our continued success and I look forward to watching all he’ll accomplish.”

Charlesworth joined Krispy Kreme in 2017 and most recently served as the company’s global president and chief operating officer. He previously served as Krispy Kreme’s chief financial officer. He said it’s “both an honor and a privilege” to lead Krispy Kreme, adding: “Together, we will continue to make fantastic, fresh doughnuts conveniently available to more and more consumers around the world.”

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Morgan Stanley

Financial services and investment banking giant Morgan Stanley will welcome co-president Edward “Ted” Pick as its new CEO effective on Jan. 1, when he will also join the firm’s board of directors. Pick succeeds James Gorman as Morgan Stanley’s CEO following Gorman’s announcement at the firm’s 2023 annual general shareholder meeting that he intended to step down. 

Gorman joined Morgan Stanley in 2006 and was elevated to CEO on Jan. 1, 2010, and he will transition to the role of executive chairman. He said in a press release that he worked with the board for several years to ensure an orderly transition and said the board’s “selection of Ted Pick is an outstanding one.”

“Morgan Stanley is a storied institution, and I am deeply honored to have been chosen to lead it,” Pick said. He added, “Thanks to James’ excellent leadership, our firm is now well-positioned to succeed across market cycles, and I am excited about the opportunities for future growth.”

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Sherwin-Williams

Sherwin-Williams – a leader in the manufacture, development, distribution and sale of paint and coatings – named Heidi Petz as the company’s new CEO effective Jan. 1, 2024. Petz has served as the company’s president and chief operating officer for the last two years and first joined the company in 2017 following Sherwin-Williams’ acquisition of Valspar.

Petz will succeed John Morikis as CEO while she continues to serve as president. Morikis began his tenure as Sherwin-Williams CEO in 2016 and will continue to serve as the company’s executive chairman.

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Morikis said of his successor, “Heidi has been an invaluable member of my leadership team, demonstrating a record of driving growth and operational excellence that has generated increased value for our customers, shareholders and employees. With this transition, Heidi becomes only the tenth CEO in the 157-year history of the company.”