Panera Brands Inc. has named a new finance head.
The parent company of Panera Bread, Caribou Coffee and Einstein Bros. has appointed Konrad Meyer as CFO effective Aug. 22. He succeeds Ted Stedem, who is stepping down from the role to pursue other interests.
Meyer joins Panera Brands from its parent company, JAB Holdings, where he has been a partner helping to source and oversee its investments, including its fast-casual restaurant portfolio. He previously served as interim CFO of Pret a Manger.
In July, Panera Brands terminated an agreement that would have taken the chain public again, saying it would no longer merge with Danny Meyer’s special purpose acquisition group “in light of unfavorable economic conditions.”
“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.”
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.
As of June 30, 2022, there were 2,130 Panera Bread locations 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 has 738 stores in 10 countries. Einstein Bros. Brands, consisting of Einstein Bros. Bagels, Bruegger’s Bagels, Noah’s New York Bagels and Manhattan Bagel operates 984 company-owned and licensed units across the U.S.