Panera Bread Company announced that its Board of Directors has appointed Thomas Patrick Kelly Interim Chief Financial Officer, effective April 9, 2012. Mr. Kelly will report to Bill Moreton, President and Co-Chief Executive Officer, and is serving as Interim CFO while the Company searches for a permanent CFO.
As interim CFO, Mr. Kelly will manage the Company’s finance and accounting departments. Mr. Moreton will continue to be the primary contact with the investment community during the search for its new CFO.
“We are pleased to announce the addition of Patrick to Panera’s senior management team as Interim CFO,” commented Bill Moreton. “As an experienced financial executive with over 10 years of CFO and CEO experience on both a permanent and interim basis in various industries ranging from airlines to manufacturing to technology, Patrick provides Panera with the expertise and experience we are looking for during this transition. The search for our permanent CFO is on-going and we anticipate that it will take four to six months to find the right permanent replacement.”
Panera Bread Company (NASDAQ: PNRA) 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.