Michelle P. Parman
2001 Outstanding Alumni
Last year, Krispy Kreme Doughnuts, Inc. wowed the nation's business community with its Initial Public Offering (IPO), taking its stock public and then seeing its value double, triple and more than quadruple. At the end of the year, Krispy Kreme was corporate America's second-best performing IPO, an amazing accomplishment by all accounts.
Michelle Parman, our outstanding alumna and Senior Vice President for Corporate Development at Krispy Kreme Doughnuts, Inc., has been a key player in Krispy Kreme's meteoric rise. She continues to help guide Krispy Kreme as it enters new markets in the United States, expands into Canada and looks abroad. With the majority of her working years still ahead, she has already had a highly successful career and made a significant mark in the business world. Through hard work and taking maximum advantage of learning opportunities, Parman has attained one of the most enviable corporate positions in America.
Upon graduating from East Tennessee State University in 1984, the Greeneville native joined Price Waterhouse in Winston-Salem, N.C. During almost a decade there, she worked on the audit staff and held the positions of Staff Accountant, Senior Accountant, and Audit Manager. In addition to her audit responsibilities, she was the Human Resource Manager for the Winston-Salem office.
In 1993, it was her human resources background that was a springboard for a position at Krispy Kreme, which has its corporate headquarters in Winston-Salem. She joined Krispy Kreme, as Director of Human Resources, excelled in that position, impressed top corporate managers, and was promoted to Vice President of Strategic Planning in 1997. This position allowed her to combine her financial background, organizational skills and a unique capacity to undertake many tasks simultaneously and handle them all well.
Just as Krispy Kreme began seriously considering an IPO, Parman was promoted to Senior Vice President of Corporate Development and was the point person and coordinator of the company's IPO activities. At the same time, Parman had primary responsibility for other aspects of strategic planning, as well as overseeing financial analysis. She continues to head strategic planning and investor relations along with oversight of human resources and corporate communications.
As the April 2000 Krispy Kreme IPO approached, Parman along with other executive management, investment bankers and financial consultants helped in writing the prospectus and ensuring that the investment community was educated not only about the product - world-famous Krispy Kreme doughnuts - but also about Krispy Kreme's corporate history and unique business model.
Parman was integral in successfully communicating Krispy Kreme's growth potential in a way the investment community could understand and helping to create a renewed enthusiasm for a specialty brand that just a few years before, on its 60th birthday, had been recognized as a business icon and southern cultural treasure by the Smithsonian Institution. She, Krispy Kreme President and Chief Executive Officer Scott Livengood, and Executive Vice President Paul Breitbach crisscrossed the United States for weeks, telling the Krispy Kreme story and sharing the Krispy Kreme prospectus with investment firms.
The IPO was an overwhelming success and raised more than $68 million. Parman was a key contributor in what became the second most successful IPO of 2000. Recognition for her efforts included receiving the "Woman in Business Award" from The Business Journal.
In January 2001, Parman helped prepare for a follow-on offering, which raised more than $174 million dollars. At the same time, she provided key leadership for Krispy Kreme, as system-wide sales grew from $168 million in fiscal 1997 to more than $400 million in fiscal 2001. Today, Krispy Kreme has more than 180 stores in 29 states.
Parman is a Certified Public Accountant, a member of the American Institute of Certified Public Accountants, the North Carolina Association of Certified Public Accountants and National Investor Relations Institute. In addition, she serves on the Board of Directors of Junior Achievement of Northwest North Carolina and the BB&T Advisory Board. BB&T is the nation's 16th largest bank.
Parman and her husband Rick have a daughter, Meredith, who will be six in July.