Panera’s CEO, Ron Shaich, to step down

RICHMOND HEIGHTS Mo. Panera Bread Co. chief executive Ron Shaich will step down as chief executive next May and be replaced by co-chief operating officer Bill Moreton, the company said late Tuesday.

Shaich, who co-founded the bakery-café concept 28 years ago, will become executive chairman of the board, Panera said. The executive changes will occur at the company’s next annual meeting on May 13, 2010.

Shaich said the change had been under discussion

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