1. Panera's CEO and Founder has Announced his Plans to Step Down After the Chain Reveals a Major Acquisition

    Panera's CEO and Founder has Announced his Plans to Step Down After the Chain Reveals a Major Acquisition
    • Panera's founder and CEO is stepping down at the end of the year, after 36 years of leadership at the chain.
    • The chain also announced on Wednesday that it plans to acquire rival Au Bon Pain.

    Panera Bread announced two huge pieces of news on Wednesday: the fast-casual chain is acquiring rival Au Bon Pain, and its founder is stepping down as CEO...

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    1. This is the right time for me to step down as CEO while still staying involved in the business as Chairman.
    2. I've now completed 36 years as a leader of our company and I'm particularly pleased to be able to say that Panera has been the best-performing restaurant stock of the last 20 years, delivering a total shareholder return up 86-fold from July 18, 1997, to July 18, 2017.
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