
CIBC Urges Firms to ‘Be Bold' in M&A-Focused Stock Deals
'We're encouraging all of our clients to be bold,' Tyler Swan, managing director and global head of equity capital markets at CIBC, said in an interview. He said that equity deals used to fund M&A have been well received with 'deep order books and strong after-market trading performance.'

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Insider Alert: Amazon Exec Offloads Shares Worth Over Half a Million
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Why Meta Platforms Stock Jumped 14% in June
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Krispy Kreme promotes Raphael Duvivier to CFO
You can find original article here Nrn. Subscribe to our free daily Nrn newsletter. Krispy Kreme has promoted Raphael Duvivier from president, international to chief financial officer of the struggling JAB Holding-owned doughnut chain. Duvivier succeeds Jeremiah Ashukian, who served as CFO of Krispy Kreme since 2022 and left the brand to join a private company. This marks Krispy Kreme's third chief financial officer appointment in the past three years, following Ashukian and Josh Charlesworth — the latter having served as CFO before his promotions to COO and eventually CEO. Duvivier has held multiple leadership roles at Krispy Kreme, including chief development officer and CFO of the brand's international division. Before joining Krispy Kreme in 2019, he held several positions within the global division of Restaurant Brands International Inc. 'Raphael has been a respected leader at Krispy Kreme for over six years, and his deep understanding of the company coupled with his strong finance background will enable a smooth transition as we focus on achieving sustainable, profitable growth,' Charlesworth said in a statement. 'I am excited to partner even more closely with Raphael and believe his experience, expertise, and leadership style will be a huge benefit.' Krispy Kreme's chief growth officer David Skena has also exited the company after almost seven years with the brand. He is succeeded by current chief product officer, Alison Holder, who was promoted to chief brand and product officer. 'We thank Jeremiah and Dave for their contributions over the last several years and wish them both well in their new endeavors,' Charlesworth said in a statement. 'I have the utmost confidence in Raphael, Alison, and the rest of our strong team to help drive Krispy Kreme forward as we pursue U.S. expansion through high-volume retail points of distribution and capital-light international franchise growth.' The leadership reshuffle was announced on the heels of Krispy Kreme ending its partnership with McDonald's on July 2 after a three-year experiment that was paused in May before it ended due to slower-than-expected doughnut sales at 2,400 McDonald's locations. Following the pause of its McDonald's rollout, investors filed a class action lawsuit, alleging the company committed fraudulent business practices. Krispy Kreme's revenues have declined by 15.2%, per the company's Q1 earnings report. At the time, the company said it will be closing underperforming locations, and Charlesworth reiterated to investors that he believes in the long-term potential of the Krispy Kreme partnership. Contact Joanna at Sign in to access your portfolio