Industry News | March 16, 2012

Shaich's Back! Moreton to Co-CEO Panera

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Panera Bread Company has announced that Founder and Executive Chairman, Ron Shaich, and President and Chief Executive Officer, Bill Moreton, will become co-CEOs, effective immediately.

Read QSR's exclusive interview with Moreton here.

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.

"This is the kind of partnership with Ron that I've always wanted,” Moreton says. “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."

"This company is something I am profoundly committed to and care about deeply,” Shaich says. “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."

Read QSR's exclusive interview with Moreton here.

News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.