Mike Dowell has stepped down as chief executive of Krispy Kreme UK, the British subsidiary of the US doughnut and coffee brand, after four and a half years with the business.

Dowell joined the company in June 2013 and was credited with presiding over revenue and profit growth leading up to its sale to parent company, the Krispy Kreme Doughnut Corporation, in October 2016, after an aborted IPO process.

Richard Cheshire has been promoted from his position of managing director to take over from Dowell.

Cheshire started his career in the industry as a general manager at TGI Fridays in the early years of the company’s UK expansion in the 1980’s, before moving on to Chiquito and then Coffee Republic.

After a year and a half with sandwich chain, EAT, Cheshire joined Krispy Kreme in 2003, first as operations director and then as chief operating officer.