New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 5, 2014
10:34 EDTPNRAPanera slides following CFO resignation
Shares of fast casual restaurant operator Panera Bread (PNRA) are falling after the company announced that CFO Roger Mathews is resigning from his position. WHAT'S NEW: Panera Bread announced last night that Roger Matthews, executive vice president and CFO, resigned his position to pursue other opportunities. Effective August 6, Bill Moreton, the executive vice chairman of the company, will serve as Interim CFO as the company conducts a search for a full-time replacement. Moreton has previously held the positions of CEO, Co-CEO and CFO of Panera Bread. ANALYST OPINION: Commenting on the announcement, Oppenheimer analyst Brian Bittner said that while unforeseen management changes are never ideal for shareholders, he feels that this news is not worrisome. He said that shareholders should not perceive this announcement as a sign of declining financials or a new directional strategy. Bittner believes that long-term investors should think about purchasing Panera at current levels. The firm maintains an Outperform rating on the shares. Likewise, Bernstein analyst Sara Senatore said that Moreton has shown that he is a competent executive both in terms of operations and communications. The firm kept an Outperform rating on the stock. PRICE ACTION: During morning trading, shares of Panera were down $1.23, or 0.8%, to $149.80.
News For PNRA From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
November 24, 2014
16:39 EDTPNRAPanera Bread Chief Marketing Officer Michael Simon resigns
Panera Bread disclosed in a filing that on November 20, Michael Simon, Executive Vice President and Chief Marketing Officer of Panera Bread and a named executive officer of the company, tendered his resignation to the company, effective December 31. Simonís decision to resign was based on his acceptance of a senior leadership position with Bai Brands, an early stage, health-oriented retail beverage company. Chris Hollander, the companyís Vice President, Marketing, since March 2010, will serve as interim Chief Marketing Officer while we conduct an internal and external search for Simonís replacement.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use