Welcome to the Arena from ICR – Conversations with Today's Innovators & Business Leaders

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242

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Aug 2026

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About the show

In the increasingly crowded and competitive corporate and financial ecosystem, it’s harder than ever for companies to break through the clutter and be heard. The media, investors, agenda-driven influencers, even customers and competitors, are defining your business story on their terms. Therefore, it is imperative that companies take control and proactively drive the conversation with stakeholders in an effort to build & maintain equity value. In Welcome to the Arena from ICR, Co-Founder & Executive Chairman of ICR, Tom Ryan, interviews key business and financial players who influence the fate of public or aspiring public companies in the capital markets. As a former Wall Street Journal ranked sell-side equity analyst and the founder of one of the largest strategic communications firms in the world, Tom understands what it takes to navigate this complex environment. This is a forum for CEOs, CFOs, institutional investors, sell-side analysts, financial journalists, private equity professionals and other financial community participants to share their stories and give advice in an open and candid conversation. For more information, visit http://www.icrinc.com

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60 recent

September 9, 2026Episode 24534 min

Josh Charlesworth, President and CEO, Krispy Kreme — Doughnuts to Dollars: An iconic American brand expands globally while staying true to its roots (Re-broadcast)

Krispy Kreme has built a global brand on the strength of their incredible doughnuts. But the brand has recently gone through some struggles, and they're turning it around by finding new ways to get their products to consumers. Josh Charlesworth is the President and CEO of Krispy Kreme, which trades under the symbol D-N-U-T. Josh has served as President and CEO since January of 2024, and he joined the company as CFO in May of 2017. He was also appointed COO in May of 2019, and global president in 2022. Josh joins us to discuss Krispy Kreme's revamped business plan, including their approach to domestic expansion, and their strategy for capital-light international franchising. Highlights: How Josh Joined Krispy Kreme: From Mars to Doughnuts (2:28) Krispy Kreme's 89-Year History (3:32) The Scale of the Business Today (4:38) The 2025 Turnaround: Why the Business Model Had to Change (6:29) Capital Light Strategy & the Hub-and-Spoke Model (9:02) US Expansion (10:16) International Growth: Brazil, Spain, France & Beyond (12:05) Surprising Markets & The Brand's Global Reach (13:27) Japan Case Study (14:30) Revenue vs. Profitability (16:22) Margin Improvements, Leverage Reduction & Outsourced Delivery (17:57) Preserving Quality while Franchising (20:57) Target, Costco, Walmart & Fresh Delivery Expansion (22:53) E-Commerce & Loyalty Membership (24:46) LTOs, Collaborations & Staying Culturally Relevant (26:27) GLP-1s & Changing Consumer Trends (29:07) Top Priorities for 2026–2027 (31:11) Josh's Favourite Krispy Kreme Doughnut (32:49) Links: Josh Charlesworth LinkedIn Krispy Kreme LinkedIn Krispy Kreme Website ICR LinkedIn ICR Twitter ICR Website Feedback: If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co

September 2, 2026Episode 24426 min

Peter Milner, Founder & CEO, Renexxion Ireland — Efficacious and Safe: How an innovative new drug could revolutionize the treatment of gastrointestinal disorders

Millions of people around the world suffer from gastrointestinal issues like gastroparesis, reflux, and constipation, but until now, the available treatments haven’t been very effective, and often carry some pretty nasty potential side effects. Today, we're featuring a company hoping to bring those people relief with a drug that's both efficacious and safe. Today's guest is Peter Milner, the founder and managing member of Renexxion, where he serves as the CEO of its wholly owned operating subsidiary, Renexxion Ireland Limited, a clinical stage biopharma company committed to delivering innovative drugs to patients with gastrointestinal disorders globally. Peter’s a board-certified cardiologist, a physician-scientist and a serial entrepreneur with a proven track record of building successful biotechnology companies, including CV Therapeutics and Aptivio Biotechnology, and advancing novel therapeutics from discovery to development. Today, Peter’s going to walk us through Renexxion’s very promising new drug, the treatment gap it aims to redress, and what it will take to get it through clinical trials and into the hands of patients. Highlights: From Medicine to Serial Entrepreneur (3:00) The Gap in GI Treatment (3:30) How the Drug Works (6:10) Where Others Failed (5:05) Trial Results and the Road to Phase 3 (8:20) The Problem with Current Treatments (9:45) The Dr. Falk Partnership (17:10) Pipeline in a Pill (20:20) The Billion-Dollar Opportunity (21:45) What's Next for Renexxion (23:50) Links: Peter Milner LinkedIn Renexxion LinkedIn Renexxion Website ICR LinkedIn ICR Twitter ICR Website Feedback: If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co

August 26, 2026Episode 24329 min

Ramy Brook Sharp, Founder, Co-CEO & Creative Director, Ramy Brook — Sexy, Sophisticated and Timeless: How the search for a stylish and affordable top led to one of the world’s fastest growing women’s fashion brands

So many women’s clothing companies are all about fast fashion: trendy products that are made to sell, but not to last. Today, we’re talking to the founder of an apparel company that’s focused on making quality clothes that feel good to wear, and live in your closet long-term. Ramy Brook Sharp is the Founder, Co-CEO and Creative Director of the women’s clothing brand, Ramy Brook. In 2010, Ramy set out to create the perfect timeless top to complement her jeans and jewelry. Unable to find what she wanted, she designed it herself, and within six months, her pieces were picked up by Bergdorf Goodman. Ramy Brook is now available in over 250 boutiques, at major retailers like Saks, Neiman Marcus, Nordstrom, and Bloomingdale's, and the company has a flagship store on Madison Avenue in New York City. Today, Ramy walks us through the incredible origins of the brand, how she’s had to adapt the business to meet the demands of major retailers and social media platforms, and what we can expect to see from Ramy Brook in the coming years. Highlights: From Advertising to Fashion (2:25) The $1,000 Top That Started It All (4:00) Getting Into Bergdorf and Learning Fast (6:50) Sexy, Sophisticated, Timeless (11:00) Building a Multi-Generational Brand (12:55) From Tops to Head-to-Toe (14:10) Marketing in a Crowded Space (16:10) E-Commerce and the Omnichannel Mix (18:00) Leading People Through Change (21:10) What's Next for Ramy Brook (25:25) Links: Ramy Brook Sharp LinkedIn Ramy Brook LinkedIn Ramy Brook Website ICR LinkedIn ICR Twitter ICR Website Feedback: If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co

August 19, 2026Episode 24228 min

Max Martin, Co-founder & CEO, Enhanced — Let The Games Begin: How a competition involving the safe use of performance-enhancing substances builds trust among elite athletes and average consumers

The health and wellness space is crowded, with a lot of companies selling products that they claim will keep you healthier and more active into old age. To differentiate themselves, one company has organized an entire sporting event featuring elite athletes, but with a twist: competitors are allowed to use performance enhancing substances. Max Martin is the Co-founder and CEO of Enhanced, an elite sports competition and performance products company that trades on the NYSE under the symbol ENHA. With a unique background spanning technology, investment banking at Morgan Stanley, and entrepreneurial leadership, Max brings a distinctive perspective on building and scaling disruptive businesses at the intersection of technology, finance, and emerging markets. Today, Max takes us inside Enhanced, their groundbreaking sporting event, their unique product offerings, and why the emergence of peptides could create major tailwinds for the business. Highlights: What is Enhanced and How It Started (2:20) The Enhanced Games Explained (10:05) A Billion Eyeballs on Year One (11:25) Athletes as a Customer Acquisition Engine (12:50) The Peptide Opportunity (14:45) How to Become a Customer (17:05) Standing Out in a Crowded Market (20:25) How Big Is the Market (22:35) Why Enhancement Is for Everyone (25:05) What's Next for Enhanced (27:00) Links: Max Martin LinkedIn Enhanced LinkedIn Enhanced Website ICR LinkedIn ICR Twitter ICR Website Feedback: If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co

August 12, 2026Episode 24134 min

Sami Inkinen, Co-founder & CEO, Virta Health — Reversing Diabetes: How nutrition and technology are rewriting what’s possible in metabolic health (Re-broadcast)

As we continue to work on some new episodes for you, please enjoy this episode from June featuring Sami Inkinen, the co-founder and CEO of Virta Health. Summary: The medical establishment spent decades telling patients that type 2 diabetes is a chronic and irreversible disease. Today’s guest decided to prove them wrong. Sami Inkinen is the co-founder and CEO of Virta Health, a company using a combination of nutrition science, remote monitoring technology, and individualized coaching to help patients reverse type 2 diabetes, obesity and other metabolic conditions. Previously, Sami co-founded Trulia, the online real estate marketplace, serving as COO and president through its IPO and eventual sale to Zillow. He has also held roles at Microsoft and McKinsey, and rowed from California to Hawaii with his wife to raise awareness of the dangers of sugar. Sami joins us to talk about how his own health journey influenced his decision to start Virta, the challenges of scaling in the health space, and the incredible success they’ve had in treating metabolic disease. Highlights: A personal pre-diabetes diagnosis (2:35) Lessons from Trulia (6:00) Why reversal, not management (9:30) Clinical results and outcomes (12:47) GLP-1s and Virta’s approach (15:26) Technology and personalization (17:33) Selling to employers (20:17) Overcoming the status quo (22:33) Building a full-stack team (25:15) Rowing California to Hawaii (28:30) Goals for ‘26 into ‘27 (30:58) Links: Sami Inkinen LinkedIn Virta Health LinkedIn Virta Health Website ICR LinkedIn ICR Twitter ICR Website Feedback: If you have questions about the show, or have a topic in mind you’d like discussed in future episodes, email our producer, joe@lowerstreet.co

August 5, 2026Episode 24033 min

Mike Silvestrini, Co-founder & Managing Partner, Energea — High Yield and High Impact: Bringing clean energy to emerging markets, and generating incredible returns for investors (Re-broadcast)

As we take a short production break for summer we'll be re-releasing some old favorites, including this episode from back in June, featuring Mike Silvestrini, the co-founder and Managing Partner of Energea. Enjoy! Show Notes: Investing in clean energy infrastructure in emerging markets sounds more altruistic than profitable. But today's company shows that doing the right thing can also be incredibly lucrative. Mike Silvestrini, co-founder and Managing Partner of Energea, a US-based renewable energy investment platform. Mike's a seasoned renewable energy professional who has played a central role in developing over 500 solar projects across the US, Brazil, and Africa, contributing meaningfully to the global transition to clean energy. Today, we talk to Mike about how Energea evaluates investment opportunities, how they mitigate risk, and the incredible differences he's been able to make in different regions around the world. Highlights: Where the idea for Energea came from (2:20) How the platform functions (5:58) The types of deals Energea pursues (7:30) The minimum investment in Energea (9:52) Investment portfolios (11:53) Brazil (13:33) Investor Relations (15:27) Energea's Wealth Management Channel (18:32) Vetting new deals (19:45) Big institutional partners — Brookfield & Goldman Sachs (22:20) Community impact (24:23) Life perspective (28:16) Emerging Markets (30:11) Goals for '26 into '27 (31:37) Links: Mike Silvestrini LinkedIn Energea LinkedIn Energea Website ICR LinkedIn ICR Twitter ICR Website Feedback: If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co

July 29, 2026Episode 23930 min

Jeremy Morgan, CEO, American Family Care — Not Just Emergencies: How a national network of urgent care clinics is expanding their services to meet patient needs

Historically, urgent care clinics were places you only went to treat acute injuries, but people are now turning to them for a growing slate of non-emergency medical services. And for operators in the space, that's creating a huge amount of opportunity. Jeremy Morgan is the CEO of American Family Care, the nation's leading provider of urgent care with nearly 400 walk-in clinics across the United States. AFC's team of over 3,500 highly trained healthcare professionals deliver care to more than four million patients annually, driving system-wide sales exceeding a billion dollars. Jeremy joins us to discuss how changes in American healthcare are impacting AFC's growth prospects, their approach to franchising, and how they're leveraging technology to deliver fast, convenient, and high quality healthcare to the communities they serve. Highlights: Why Jeremy Joined AFC (2:20) Urgent Care as a Retail Business (4:00) What Makes AFC Different (6:22) Taking Over a Founder's Business (8:26) The Three-Stage Growth Plan (10:48) Building the Leadership Team (12:58) Going All-In on AI (17:36) The Case for Franchising with AFC (20:10) Buying Out the Competition (25:39) Links: Jeremy Morgan LinkedIn AFC LinkedIn AFC Website ICR LinkedIn ICR Twitter ICR Website Feedback: If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co

July 22, 2026Episode 23830 min

Orazio Buzza, Founder & CEO, Fooda — Table Stakes: How Fooda reimagined workplace dining across America

What if instead of a corporate cafeteria, your employer brought a different local restaurant to your office every day? It’s a simple idea, but the execution is surprisingly complicated. Orazio Buzza is the founder and CEO of Fooda, a leading workplace dining platform serving offices, hospitals, distribution centers and other workplaces across the US. Before founding Fooda in 2011, Orazio was part of the founding team at Echo Global Logistics, where he served as president and COO and helped take the company public. Today, Orazio walks us through how Fooda went from a single pop-up program at a Chicago office to a national platform, how they rebuilt the company almost from scratch after losing 95% of their business during COVID, and why food has become table stakes for employers trying to attract the best talent. Highlights: Echo Global Logistics and the IPO (1:54) The origin of Fooda (4:12) The three-sided marketplace (6:06) The scale of the business today (12:35) City-by-city expansion (13:20) Losing 95% of business in COVID (15:00) Return to office and food as a perk (19:07) Technology and Fooda OS (22:33) Goals for ‘26 into ‘27 (27:20) Links: Orazio Buzza LinkedIn Fooda LinkedIn Fooda Website ICR LinkedIn ICR Twitter ICR Website Feedback: If you have questions about the show, or have a topic in mind you’d like discussed in future episodes, email our producer, joe@lowerstreet.co

July 15, 2026Episode 23627 min

David Cantu, CEO, Craftable — Solving Margin Drift: How Craftable is giving hospitality operators real-time visibility into where the money is going

Summary: In a restaurant, food and labor account for 60 to 65 cents of every dollar spent, and there are a lot of ways to lose money when you’re not watching them closely. Most back-office tools only tell operators what went wrong after the fact; today’s company gives them a clear picture of what’s happening right now, and what it will cost them if they don’t do anything about it. David Cantu is the CEO of Craftable, one of the hospitality industry’s leading SaaS profit management platforms. He’s been in the industry for approximately 35 years — starting in operations at P.F. Chang’s, co-founding HotSchedules, and most recently serving as CEO of Black Box Intelligence. Today, David walks us through how Craftable works, what they’re most focused on as they look to automate the back-office workflow, and why you can’t manage costs at the expense of the customer experience. Highlights: Hooked from the first shift (2:08) From P.F. Chang's to HotSchedules (2:52) How David came to Craftable (6:40) The back-office workflow, explained (9:21) Scale and ideal customer (11:40) Staying operator-first (13:40) Actual vs. theoretical (17:37) Cost discipline vs. guest experience (20:09) Texas Roadhouse and playing the long game (23:18) What's next for Craftable (24:29) Links: David’s LinkedIn Craftable LinkedIn Craftable Website ICR LinkedIn ICR Twitter ICR Website Feedback: If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co

July 8, 2026Episode 23732 min

Joe Musselman, Founder & Managing Partner, BVVC — Building Deterrence: Bolstering national security by investing in defense tech (Re-broadcast)

We're taking a short hiatus for the holiday, and we thought now would be a great time to resurface this episode from March about a venture capital fund focused on restoring America’s arms manufacturing capabilities. We hope you enjoy! Happy Fourth of July! Summary: When it comes to defense tech, it's not enough to design the best weapons systems, you need to be able to actually build them. Today's company is investing in the infrastructure that will restore American arms manufacturing capabilities, and preserve our advantage in a world that's becoming more dangerous. Our guest today is Joe Musselman, Founder and Managing Partner of Bravo Victor Venture Capital, a US-based early seed and series-A venture capital fund. Joe is accountable for the firm's strategic vision and day-to-day mission, and leads all teams at the firm, including capital, investment, portfolio, and fund operations. Since 2019, Joe's invested in companies like Firestorm, Epsilon3, Havoc AI, and notable early breakouts like Anduril, and Figure AI. And importantly for our conversation today, he recently led investments into Union, a new energetics prime where he is Co-Founder and Chairman. Today, Joe discusses his fascinating journey as a founder, how BVVC is enabling national security start-ups to scale effectively, and why winning the AI race will be crucial for the future of our country. Highlights: Joe's journey (2:17) Why defense tech? (6:01) Fund in the field (8:26) Scaling national security startups (13:18) Union and the manufacturing advantage (19:01) The importance of AI (23:25) Why defense tech investments are crucial (27:29) Links: Joe Musselman LinkedIn Joe Musselman LinkedIn BVVC Website ICR LinkedIn ICR Twitter ICR Website Feedback: If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, joe@lowerstreet.co