By:  Hal C Clarke

As the clock strikes midnight on New Year’s Eve, several prominent companies are set to usher in the new year with a change in leadership. Corporate succession planning, often a complex and crucial process, aligns seamlessly with the transition to a new calendar year, providing an optimal starting point for the incoming chief executives.

Krispy Kreme’s Sweet Transition

Krispy Kreme, the beloved doughnut chain, is set to be led by Josh Charlesworth, who assumes the role of president and CEO from Michael Tattersfield on January 1, 2024. Tattersfield, the outgoing CEO, expresses his happiness in transitioning the role to Charlesworth, who has been an integral part of the Krispy Kreme team since 2017. Tattersfield will continue to contribute as a senior adviser and brand ambassador, ensuring a smooth succession plan.

Charlesworth, who previously served as Krispy Kreme’s global president and chief operating officer, shares his enthusiasm for leading the iconic brand. He acknowledges the honor and privilege of the role, expressing confidence in the continued success of Krispy Kreme. The focus remains on making delightful, fresh doughnuts accessible to an ever-growing global audience.

Morgan Stanley’s Financial Visionary

In the financial sector, Morgan Stanley is set to welcome Edward “Ted” Pick as its new CEO, effective January 1, 2024. Currently serving as co-president, Pick will join the firm’s board of directors, succeeding James Gorman. Gorman, who led Morgan Stanley since 2010, will transition to the role of executive chairman. The succession plan, meticulously orchestrated over several years, reflects the board’s confidence in Pick.

Pick expresses his deep honor at being chosen to lead Morgan Stanley, acknowledging Gorman’s exemplary leadership. Under Gorman’s guidance, the firm is well-positioned for future growth across market cycles. Pick looks forward to capitalizing on the opportunities for continued success.

Sherwin-Williams’ Colorful Leadership Transition

Heidi Petz steps into the role of CEO at Sherwin-Williams, a global leader in paint and coatings, effective January 1, 2024. Having served as the company’s president and chief operating officer for the last two years, Petz brings a wealth of experience to the position. She first joined Sherwin-Williams in 2017 following the company’s acquisition of Valspar.

John Morikis, the outgoing CEO, praises Petz’s contributions to the company, highlighting her track record of driving growth and operational excellence. With this transition, Petz becomes only the tenth CEO in Sherwin-Williams’ 157-year history. The focus remains on delivering value to customers, shareholders, and employees, ensuring a seamless continuation of the company’s legacy.

In welcoming these new leaders, Krispy Kreme, Morgan Stanley, and Sherwin-Williams are poised for a fresh chapter of growth, innovation, and continued success.