Panera Bread Co (NASDAQ:PNRA) extended the short term decline and ended the last trading session with a loss of 1.22%. The volume of the day at 697,000 was higher than the daily average of 509,000 but it didn’t provide any bottoming out signal yet. A slight fatigue in the bearish momentum was seen in the intraday price action with some recovery from the day low but it needs further confirmation in the form of a positive candle. The bulls may place their hope on the long term support line seen on the chart attached but the probability of a retest of $172 levels can’t be ruled out yet.
To make sure that it can augment the organizational capabilities in the best possible way, Panera Bread Co (NASDAQ:PNRA) has made a couple of changes in its senior management team. As per the reports, Drew Madsen has been appointed as the new President while Ken Koziol as the new Executive Vice President.
Insights of The Matter
Madsen will report to Ron Shaich, CEO & Chairman, Panera Bread. His prime objective will be to handle core café business and look for different ways in which it can be grown further. Shaich, who looks after growth initiatives, strategic planning and innovation will help him finding different ways to monetize the cafe business.
Previously Madsen was the COO and President of Darden Restaurants Inc., the largest full-service company in the world. He spent nine years at Darden Restaurants Inc., during which the sales of the company grew by 81%, the number of properties grew by 61%, EPS grew 100%, and total shareholder return increased to 110%.
Under his leadership, Darden became Fortune’s one of the “100 Best Companies to Work For.” Madsen earned his graduation degree from DePauw University and MBA from Stephen M. Ross School of Business- University of Michigan.
Ken Koziol, the new Executive Vice President, will look after a number of cafe support businesses. He previously worked for McDonald’s as EVP, Worldwide Chief Restaurant Officer. At McDonald’s, he took care of a wide range of functions, including operation design, support, innovation, equipment, delivery, mobile, training, security and safety.
Koziol also led McD corporate innovation function. Some of his other roles and responsibilities from time to time at McD included vice president- worldwide quality assurance, vice president- worldwide restaurant innovation and senior director- U.S. supply chain management.
Koziol did his graduation from Northeastern Illinois University and MBA from Northern Illinois University.
The senior management of Panera Bread is delighted to have both of these industry leaders joining at the same time and hope that they will lead the company to newer heights in the coming months.
