Sometime after June 30, the five finalists will submit video testimonials making a case for why they're worthy of the Chief Donut Officer title. The public will watch those videos and decided on a favorite, which will be announced on August 7. That grand prize winner will get a bunch of Entenmann’s swag, plus the aforementioned $5,000 and year’s supply of donuts.
But even if you don't become Chief Donut Officer, the four runner-ups still get $1,000 and a year of free donuts. Which is pretty great, too.
This is all in honor of National Donut Day on June 1. If you win and become CDO, you will presumably be the food holiday's equivalent of Santa Claus come next year. But that's not in the official terms and conditions.