New year, new CEOs for these major companies

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

Corporate succession planning can be a tumultuous process, and the changing of the calendar year presents a straightforward opportunity for a companys 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. Heres a look at the three freshly minted CEOs.

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 companys board as a senior adviser and brand ambassador as part of Krispy Kremes succession plan.

Krispy Kreme is welcoming Josh Charlesworth as its new CEO. Charlesworth succeeds Michael Tattersfield. (Photo Illustration by Justin Sullivan / Getty Images)

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. Joshs 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 hell accomplish.”

Charlesworth joined Krispy Kreme in 2017 and most recently served as the companys global president and chief operating officer. He previously served as Krispy Kremes chief financial officer. He said its “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.”

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 firms board of directors. Pick succeeds James Gorman as Morgan Stanleys CEO following Gormans announcement at the firms 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 boards “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.”

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

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.”