ST. LOUIS--(BUSINESS WIRE)--Panera Brands Inc., which includes the iconic fast casual and hospitality brand Panera Bread as well as Caribou Coffee and Einstein Bros. Brands, is pleased to announce the appointment of Konrad Meyer as Chief Financial Officer, effective August 22, 2022. Mr. Meyer joins Panera Brands from JAB, where he has been a Partner helping to source and oversee its investments, including its fast casual restaurant portfolio. He brings significant experience in the industry, including previously serving as interim CFO of Pret a Manger.
Ted Stedem, current Panera Brands CFO, is stepping down from his role to pursue other interests after supporting the company during a time of significant evolution and growth. In addition to the appointment of Mr. Meyer to CFO of Panera Brands, Mark Wooldridge, SVP, Controller and Chief Accounting Officer, will also assume the responsibilities of Panera Bread Chief Financial Officer.
Panera Brands is one of the world’s largest and most innovative fast-casual restaurant companies, focused on providing delicious options made from high-quality ingredients while providing an elevated experience rooted in omni-channel access, personalization, and convenience. In 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, building an unrivaled fast casual platform with tremendous runway for 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, CEO 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.”
About Panera Brands
Panera Brands is one of the world’s largest fast casual restaurant platforms, with 3,852 locations and 120,000 employees, including franchisees, across 11 countries. A portfolio of complementary brands bound by common values and shared growth opportunities, Panera Brands is comprised of Panera Bread®, Caribou Coffee® and Einstein Bros. Brands. Panera Brands companies are independently operated and underpinned by industry leading technology, loyalty, craveability, and high-quality ingredients. Panera Brands companies are united in their mission to be force multipliers for good for their guests, communities, the planet, and the shareholders they serve. Panera Bread is a pioneer and market leader in fast casual, with leadership in the quality of its clean, transparent, sustainable ingredients, and in omnichannel access, digital convenience (48% of sales are e-commerce in Q2 2022) and engagement (49 MM MyPanera loyalty members as of June 30, 2022).
As of June 30, 2022, there were 2,130 Panera Bread bakery-cafes in 49 states (including the District of Columbia) in the United States and in Ontario, Canada, operating under the Panera Bread® or Saint Louis Bread Co.® names. Caribou Coffee provides high-quality handcrafted beverages and food options, with 738 stores in 10 countries. Einstein Bros. Brands, consisting of Einstein Bros. Bagels®, Bruegger’s Bagels®, Noah’s New York Bagels® and Manhattan Bagel® is a market leader in bagels and bagel sandwiches operating 984 company-owned and licensed units across the US.