Panera Bread Announces Bill Moreton, Ron Shaich to Become Co-CEOs
March 15 2012 - 4:20PM
Marketwired
Panera Bread Company (NASDAQ: PNRA) has announced that Founder and
Executive Chairman, Ron Shaich, and President and Chief Executive
Officer, Bill Moreton, will become co-CEOs, effective immediately.
The transition to co-CEOs formalizes a relationship that has
evolved over the last year and is a reflection of the way in which
Shaich and Moreton have been operating as partners. This change in
titles is simply a statement of their partnership and shared
commitment to Panera.
Effective today, each individual's formal title will be as
follows: Ron Shaich, Chairman of the Board and co-CEO; Bill
Moreton, President and co-CEO.
Comment from Bill Moreton: "This is the
kind of partnership with Ron that I've always wanted. It couldn't
be better for Panera and I personally couldn't be happier to have
the opportunity to continue to share the leadership of Panera with
Ron. Panera will certainly benefit from both of our experiences and
the company will be stronger for our shared vision, passion and
commitment."
Comment from Ron Shaich: "This company is
something I am profoundly committed to and care about deeply. As
many observers of Panera know, over the last year, essentially all
of my time has been spent on a range of strategic and innovation
efforts for Panera. I've continued to find Panera the best platform
I know of to make a difference in the world. I am excited at the
opportunities we have to do just that at Panera."
About Panera Bread Company
Panera Bread Company owns and franchises 1,541 bakery-cafes as
of December 27, 2011 under the Panera Bread®, Saint Louis Bread
Co.®, and Paradise Bakery & Café® names. Our bakery-cafes are
principally located in suburban, strip mall and regional mall
locations. We feature high quality, reasonably priced food in a
warm, inviting, and comfortable environment. With our identity
rooted in handcrafted, fresh-baked, artisan bread, we are committed
to providing great tasting, quality food that people can trust.
Nearly all of our bakery-cafes have a menu highlighted by
antibiotic-free chicken, whole grain bread, and select organic and
all-natural ingredients, with zero grams of artificial trans fat
per serving, which provide flavorful, wholesome offerings. Our menu
includes a wide variety of year-round favorites complemented by new
items introduced seasonally with the goal of creating new standards
in everyday food choices. In neighborhoods across the United States
and in Ontario, Canada, our customers enjoy our warm and welcoming
environment featuring comfortable gathering areas, relaxing decor,
and free internet access. Our bakery-cafes routinely donate bread
and baked goods to community organizations in need. Additional
information is available on our website, www.panerabread.com.
Contact Information Investor Inquiries: Michele Harrison
VP, Investor Relations Email Contact (314) 984-4966 Media
Inquiries: Linn Parrish VP, Public Relations Email Contact (314)
984-4959
Panera Bread Company (NASDAQ:PNRA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Panera Bread Company (NASDAQ:PNRA)
Historical Stock Chart
From Jul 2023 to Jul 2024