ST LOUIS — Panera Bread Co. said it will replace chief financial officer Mark Hood with Jeff Kip, vice president of finance and planning, effective May 5.
After resigning, Hood will serve as consultant to the company through Aug. 31, the company said.
In addition, Neal Yanofsky, executive vice president and chief administrative officer has been appointed to president. John Maguire, presently senior vice president and chief company and joint venture operations officer, will be promoted to executive vice president.
"At this stage in Panera's development, we want to adjust some areas of responsibility to better share the work and to make sure that we have people in the right places to drive our future growth," Ron Shaich, chief executive, told the Associated Press.
