Green Mountain Founder Dumps Krispy Kreme Shares
The founder of Green Mountain Coffee Roasters who was ousted from the company's board leadership for a stock sale that violated company policy has also dumped his $50 million stake in Krispy Kreme Doughnuts.
A filing made with the Securities and Exchange Commission yesterday shows Robert Stiller sold his 8 million shares of the doughnut company at a price of $6.15 each.
Stiller was the second-largest shareholder of Krispy Kreme, according to FactSet.
The disclosure comes a day after Green Mountain said it was removing Stiller and another board member from their leadership roles because of stock sales that violated company policy. Those sales happened to cover margin calls.
Shares of Krispy Kreme were up 18 cents at $6.53. Green Mountain shares were down 34 cents at $26.04.