• Krispy Kreme announced that it has hired Kenneth A. May, a former FedEx executive, to be its new president/COO, reporting to CEO Jim Morgan.
According to the announcement, May “served as President and Chief Executive Officer of FedEx Kinko's Office and Print Centers, and led the integration of Kinko's into FedEx ... Prior to his assignment at FedEx Kinko's, Mr. May held various positions throughout FedEx, including Senior Vice President of U.S. Operations for FedEx Express, FedEx's largest division with over 62,000 employees. Most recently, he served as President of ES3, LLC, a logistics company that uses advanced robotic technology to make supply chain operations more efficient and profitable for manufacturers and retailers.”
According to the announcement, May “served as President and Chief Executive Officer of FedEx Kinko's Office and Print Centers, and led the integration of Kinko's into FedEx ... Prior to his assignment at FedEx Kinko's, Mr. May held various positions throughout FedEx, including Senior Vice President of U.S. Operations for FedEx Express, FedEx's largest division with over 62,000 employees. Most recently, he served as President of ES3, LLC, a logistics company that uses advanced robotic technology to make supply chain operations more efficient and profitable for manufacturers and retailers.”
- KC's View:
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I don’t usually comment on executive appointments, except when I know someone or I think a move is a particularly smart one. That isn’t the case here, but the circumstances are such that I cannot help myself...
First of all, the decision to eliminate the Kinko’s name when the company was acquired by FedEx was, IMHO, one of the dumbest, most boneheaded brand decisions that I can remember. While the FedEx and Kinko’s brands would seem to be complementary, the arrogance of turning Kinko’s into FedEx Office just showed that management had a tin ear. Most people I know still call it Kinko’s ... despite the best efforts of FedEx.
And so, I have to wonder if the guy who led that effort has the right brand mentality to lead a doughnut company that has done everything possible to screw up a great brand.
But, since he has the job, I would suggest that he read the chapter on Krispy Kreme in our book, THE BIG PICTURE: Essential Business Lessons from the Movies. (Blatant and self-serving plug: the book is available by clicking here , or on Amazon.com.)
In that chapter, we write about the movie American Gangster and how its drug dealer protagonist, Frank Lucas, was fiercely protective about the heroin he sold, establishing an efficient supply chain and high quality product that he even gave a brand name - Blue Magic. And heaven help anyone who tried to dilute the power of his brand. And we argue that if Krispy Kreme leadership had the same attitude about their brand that Frank Lucas did about his, then the company might not have gone into a such a steep decline.
I’m just sayin’...
