Not everyone runs on Dunkin'.
Dunkin Brands (NASDAQ: DNKN), which owns Dunkin' Donuts and Baskin-Robbins. will soon lose its chief financial officer. Paul Carbone plans to leave the company on April 21 for a job in the specialty retail industry, the market he worked in before he joined the restaurant company.
The company has named Kate Jaspon, its current vice president, finance and treasury, as interim CFO. She will report directly to CEO Nigel Travis while Dunkin' conducts a search for a permanent replacement. Both internal and external candidates will be considered.
As interim CFO, Jaspon will "have responsibility for accounting, corporate tax, investor relations and competitive intelligence in addition to her current responsibilities for global financial planning and analysis, business analytics, debt and cash management, electronic payments and insurance," according to a press release.
"Kate is a talented financial executive with a deep understanding of Dunkin' Brands," said Travis. "She has helped lead us through a number of important transactions, including our IPO and follow-on equity offerings, securitization and several debt restructurings, and has overseen the implementation of our enterprise risk management program."
Meet the interim CFO
In her 11 years with the company, Jaspon has steadily advanced through the ranks. She joined Dunkin' as assistant controller and was later promoted to vice president, controller and corporate treasurer. In 2014, she gained her current title as vice president, finance and treasury. Previously, she held various positions at KPMG, the international financial services corporation.
"With her thorough knowledge of our business, her background in financial planning, analysis and reporting, as well as her accounting and treasury management skills, Kate is well qualified to lead our world-class financial team during this transition period," said Travis.
A smooth transition
Changing CFOs always has the potential to be a bit rough, but the extended hand-off period to an experienced insider should make this move seamless. Jaspon clearly has the company experience and background to do the job, and it seems likely she will receive serious consideration as a candidate for the position on a permanent basis.
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Daniel Kline has no position in any stocks mentioned.