Industry News | December 13, 2007

Panera President To Leave

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Panera Bread Company (Nasdaq: PNRA) announced Tuesday the resignation of Neal Yanofsky, president of the company, effective January 4, 2008.

As President, Yanofsky provided oversight of Panera's information services, legal, human resources, business development, finance, accounting, and supply chain functions.

Yanofsky's duties will be split between Chairman and CEO Ron Shaich, Executive Vice President John Maguire, and SVP and Chief Financial Officer Jeff Kip.

"I've been proud every day to work for this great company and will enjoy watching its continued success," Yanofsky says. "Panera is a quality brand driven by strong values and dedicated people who exhibit true passion for authenticity and service. It has phenomenal prospects for the future."

"I want to thank Neal for his service to Panera," Shaich says. "He has been a valuable member of our family for over four-and-half years and we wish him all the best."