Panera Names New President

(RTTNews) - Panera Bread Co. (PNRA) has appointed Blaine Hurst, executive vice president - chief transformation and growth officer, as the new President after the resignation of Drew Madsen.

The St. Louis-based company said Hurst's appointment is effective Monday.

Hurst has been with Panera since 2010 and has held a number of senior leadership positions, most recently as Executive Vice President - Chief Transformation and Growth Officer.

Madsen served as president since May 2015 and resigned from the company due to "personal reasons."

"Blaine has been instrumental in our multiyear efforts to transform Panera into a better competitive alternative with expanded growth opportunities," Ron Shaich, Panera's chairman and CEO said. "Blaine is well known and respected within the restaurant industry and the Panera family. Both colleagues and franchisees value his innovative thinking, the strength of the teams he's built and his ability to drive transformative change."