Mark Wooldridge assumes Panera Bread CFO responsibilities
Panera Brands named Konrad Meyer chief financial officer (CFO) as of August 22. The company serves as the holding brand for Caribou Coffee and Einstein Bros., as well as its namesake bakery-cafe chain, Panera Bread.
The current CFO of Panera Brands, Ted Stedem, departs to pursue other interests, and Meyer will replace him. Furthermore, Mark Wooldridge, SVP, controller and chief accounting officer of Panera Brands, will also assume the Panera Bread CFO’s responsibilities.
Meyer previously worked at parent JAB, acting as partner to help source and investments. These holdings include the portfolio which holds the fast-casual companies. Meyer also served as interim CFO of Pret a Manger.
Over the past year, Panera Brands companies “have driven rapid innovation, combining leading competencies in digital and loyalty with a best-in-class food innovation pipeline, a first of its kind Unlimited Sip Club subscription, new franchise partnerships and new convenience-focused store formats,” it announced. Executives believe they’ve created a differentiated fast-casual platform with plenty of room for more growth.
“Ted has been an outstanding colleague and partner, and we are grateful for his many contributions over the last three years as Panera has continued to thrive and grow,” commented Niren Chaudhary, chief executive of Panera Brands and Panera Bread. “At the same time, we are truly excited to welcome Konrad Meyer as Panera Brands’ chief financial officer. Konrad is a trusted partner and a friend who has extensive industry experience, including numerous financial and investment leadership positions, as well as a deep familiarity with Panera, which will make him a valuable member of our management team as we continue to execute our strategy and build on our leading portfolio of brands.”
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