Randy Casstevens, the chief governance officer and former CFO at Krispy Kreme Doughnuts, resigned last week to pursue personal interests, just as the company named Michael Phalen its new CFO. Casstevens had been acting as temporary CFO for nearly a year; his governance responsibilities will be transferred to general counsel Frank Murphy.

Phalen, most recently executive director of corporate finance at CIBC World Markets, is no stranger to the $491 million Winston-Salem, N.C.-based retailer. At CIBC, he had performed advisory services and worked on public equity and debt financings for Krispy Kreme. Previously, he served as vice president corporate finance with Deutsche Banc Alex Brown, where he worked on the team that executed Krispy Kreme's IPO and follow-on offering. As part of the announcement, the company promoted Sherry Polansky from finance vice president to SVP.