COO Has Resigned, Krispy Kreme Says

Krispy Kreme Doughnuts Inc. said its chief operating officer was leaving the company for another job, the latest setback for a company that is trying to recover from sluggish sales and an accounting probe.

John Tate is leaving to take the same post at home furnishings retailer Restoration Hardware Inc., a source familiar with Tate’s intentions said. Restoration Hardware executives could not be reached for comment.

Krispy Kreme said Chief Executive Scott Livengood would take over Tate’s duties.

Krispy Kreme fell 53 cents to $13.04 on the New York Stock Exchange. Restoration Hardware rose 5 cents to $5.40 on Nasdaq.