Krispy Kreme Doughnuts' executive chairman is leaving his position after seven months.
The company announced on its website Wednesday that Jim Morgan will become an unpaid, non-executive chairman.
Continue Reading Below
The change will take effect on Jan. 29, 2015.
The 67-year-old Morgan has served as chairman of the board since 2005.
As part of the Winston-Salem-based company's executive succession plan, Tony Thompson was appointed president and chief executive officer last June. Morgan had held both of those positions before he became executive chairman.