SOURCE: Panera Bread Company

Panera Bread Company

August 04, 2014 16:15 ET

Panera Bread Announces CFO Departure; Bill Moreton, Executive Vice Chairman and Former CEO, to Serve as Interim CFO

ST. LOUIS, MO--(Marketwired - Aug 4, 2014) - Panera Bread Company (NASDAQ: PNRA) today announced that Roger Matthews, Executive Vice President and Chief Financial Officer, has resigned his position to pursue other opportunities. 

Effective August 6, 2014, Bill Moreton, the Executive Vice Chairman of the Company, will serve as Interim Chief Financial Officer as the Company conducts a search for a full-time replacement. Bill Moreton has previously held the positions of Chief Executive Officer, Co-Chief Executive Officer and Chief Financial Officer of Panera Bread. Roger Matthews will transition his remaining duties through the end of August.

"We thank Roger for his contribution and counsel during his time at Panera," said Ron Shaich, Panera's Chairman and Chief Executive Officer. "I appreciate his dedication and passion to the business, and wish him every success in his next role."

"Panera Bread is a tremendous brand and it was a great experience to work with their highly motivated team," said Mr. Matthews. "The commitment to great food and a differentiated customer experience has served Panera well and will continue to into the future."

About Panera Bread

As of July 1, 2014, there were 1,818 bakery-cafes in 45 states and in Ontario, Canada operating under the Panera Bread®, Saint Louis Bread Co.® or Paradise Bakery & Café® names. 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 chicken raised without antibiotics, 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, http://www.panerabread.com.

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