News

Panera CFO resigns

August 4, 2014

Panera Bread Company today announced that Roger Matthews, executive vice president and chief financial officer, has resigned his position to pursue other opportunities.

Effective Wednesday, Bill Moreton, the executive vice chairman of the company, will serve as interim chief financial officer as the company conducts a search for a full-time replacement. Moreton has previously held the positions of chief executive officer, co-chief executive officer and chief financial officer of Panera Bread. Matthews will transition his remaining duties through the end of August.

"We thank Roger for his contribution and counsel during his time at Panera," CEO Ron Shaich said in a company press release. "I appreciate his dedication and passion to the business, and wish him every success in his next role."

"Panera Bread is a tremendous brand and it was a great experience to work with their highly motivated team," Matthews said. "The commitment to great food and a differentiated customer experience has served Panera well and will continue to into the future."

Panera recently reported flat second quarter results, despite increased transactions. Rising food costs and lower average checks were cited as factors.