Doughnuts brand Krispy Kreme has promoted Josh Charlesworth to president and CEO, effective January 1, next year.

Charlesworth will succeed current president and CEO Michael Tattersfield, who will remain on the board, serve as a senior advisor and ambassador of the brand, and remain a significant investor in the company.

Prior to joining Krispy Kreme, Charlesworth also served as CFO of Krispy Kreme and held senior leadership roles at Mars, where he worked for almost 15 years.

“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,” said Tattersfield.

“Together, we will continue to make fantastic, fresh doughnuts conveniently available to more and more consumers around the world. I want to thank Mike for the strong foundation he has built as we pursue our goal to become the world’s most-loved sweet treat brand,” said CEO Charlesworth.