Ronald M. Shaich
Founder, Chairman & CEO of Panera Bread
Ron Shaich is founder, chairman and CEO of Panera Bread, a groundbreaking restaurant brand that today has more than 2,040 bakery-cafes, 100,000 associates and more than $5 billion in annual systemwide sales. Ron is highly respected for his ability to recognize and capitalize on marketplace opportunities. In addition to founding Panera, which established the high-growth fast-casual restaurant segment, Ron earlier in his career founded and grew Au Bon Pain, establishing the bakery-cafe segment. With both companies he disrupted an existing industry paradigm and found new pathways to building companies of value and with values. The result: Panera is the best-performing restaurant stock when measured over the last 20 years, delivering a total shareholder return of 9,753% from April 18, 1997 to April 24, 2017, compared to 210% for the S&P 500 during the same time period. Indeed, Panera’s stock has generated annualized returns of 26% in the same time frame.
Over the last five years, Ron has developed and executed a powerful strategic plan to make Panera a better competitive alternative with expanded runways for growth. The strategy tapped into powerful themes that are shaping the restaurant industry and are only now being adopted by competitors, including digital, wellness, loyalty, omni-channel and new formats for growth. At the end of Q1 2017, 26% of Panera’s sales were digital – an industry-leading figure bested only by the big three pizza players. Panera was the first and only national restaurant chain with a menu free of artificial preservatives, flavors, sweeteners and colors from artificial sources. Its loyalty program was the largest in the industry at 25 million members with half of transactions made through the program. And its omni-channel approach led the industry, with delivery available in 24% of the system and catering sales growing 11%.
Ron has been recognized repeatedly for his visionary leadership. Earlier this year, he was named the second most influential leader in the restaurant industry by Nation's Restaurant News in its 2017 Power List. He was also awarded the Nation’s Restaurant News 2011 Pioneer Award for being one of the most significant contributors to the history of the restaurant industry. Past winners have included Colonel Harland Sanders, Ray Kroc, Norman Brinker and J. Willard Marriott Sr. Ron was awarded IFMA’s Gold Plate Award for being the industry’s outstanding leader in 2005. And he twice received the Nation’s Restaurant News Golden Chain Award, recognizing industry leadership and success. In addition, Ron was a national finalist for Ernst & Young’s Entrepreneur of the Year in 2003.
Under Ron’s leadership, Panera has also garnered numerous honors through the years. Among them, Panera has been named one of “The World’s Most Admired Companies” by Fortune magazine for the past five years. Institutional Investor named Panera’s leadership to its 2016 All-American Executive Team. And Fast Company named Panera the No. 1 Most Innovative Company in Food in 2015.
Known for his innovative management style and social consciousness, Ron has been featured in Fortune, Forbes, Fast Company, The Economist, TIME, The Wall Street Journal, The New York Times, The Boston Globe, TheStreet.com, Bloomberg News and on MSNBC, NBC Nightly News, CBS Evening News and ABC World News Tonight and in several books. He is a LinkedIn Influencer and a frequent guest on CNBC.
Ron serves as President of the Panera Bread Foundation and spearheaded the Panera Cares initiative, through which the Foundation creates nonprofit community cafes aimed at addressing issues related to food insecurity. He sits on the board of Whole Foods Market Inc., and formerly served as Chairman of the Board of Trustees of Clark University and on the boards of the Rashi School, the Lown Cardiovascular Foundation and the Alliance for Business Leadership. Ron is also a co-founder of No Labels, an organization that promotes bipartisan political problem solving and the development of a long-term strategic plan for the country.
Ron received a Bachelor of Arts degree from Clark University and a Master of Business Administration degree from Harvard Business School. He is also the recipient of an honorary Doctor of Humane Letters degree from Clark University. He resides in Brookline, Massachusetts, with his wife, Nancy, and children, Michael and Emma.
William W. Moreton
Executive Vice Chairman
Bill Moreton has spent 13 years with Panera and served as Executive Vice Chairman since August 2013. He is also a member of the Board of Directors. From 1998 to 2003, Moreton served as Panera Bread's Executive Vice President, Chief Financial and Administrative Officer. He rejoined the company in October 2008 as Executive Vice President & Co-Chief Operating Officer. Moreton was appointed Chief Executive Officer and President of Panera Bread and to the Board of Directors in May 2010. From March 2012 to July 2013 Moreton served as President and Co-CEO.
Prior to joining Panera, Moreton served as President and Chief Financial Officer of Potbelly Sandwich Works. He also previously served as Chief Executive Officer of Wendy's International, Inc. subsidiary Baja Fresh. Prior to his responsibilities with Baja Fresh, Moreton was Executive Vice President, Subsidiary Brand Management for Wendy's, where he assisted with strategy and growth of developing brands. Moreton also served as Executive Vice President and Chief Financial Officer of Quality Dining, Inc.
Prior to entering the restaurant industry, Moreton spent a decade in banking, accounting and financial consulting with Credit Agricole and Arthur Andersen & Co.
Moreton earned a Bachelor of Science degree in Accountancy from DePaul University and is a Certified Public Accountant.
Lead Independent Director Since March 2008, Director Since March 2000
Mr. Colasacco is President and Chief Executive Officer of Boston Trust & Investment Management, a trust company formed under Massachusetts state law. He joined Boston Trust in 1974 after beginning his career in the research division of Merrill Lynch & Co., in New York City.
Mr. Colasacco earned his Bachelor's degree and Masters of Business Administration degree from Babson College.
Director since November 2012
Ms. Hessan has served as Chief Executive Officer of the Startup Institute since October 2014. From December 1999 until February 2014, Ms. Hessan served as President and CEO of Communispace, a leading next-generation market research company. Ms. Hessan founded Communispace in 1999. Since March 2014, Ms. Hessan has served as Chairman of Communispace.
Ms. Hessan has served on the boards of numerous organizations, including the Advertising Research Foundation, The Business Innovation Factory, Horizons for Homeless Children, The Boston Philharmonic, Stand for Children, the Progressive Business Leaders Network, the Mass Technology Leadership Council, and the Tufts University Board of Trustees. She has received many awards and citations for her leadership and workplace innovation, including Ernst & Young's Regional Entrepreneur of the Year and the Greater Boston Chamber of Commerce Entrepreneur of the Year.
Ms. Hessan earned her undergraduate degree from Tufts University and Masters of Business Administration from Harvard University.
Director since June 2003
Professor Foulkes is a Professor of Organizational Behavior and the Director of the Human Resources Policy Institute at Boston University School of Management and has taught courses in human resource management and strategic management at Boston University since 1980.
From 1968 to 1980, Professor Foulkes was a member of the Harvard Business School faculty. Dr. Foulkes serves on the board of directors of Bright Horizons Family Solutions, the Society for Human Resource Management and the National Academy of Human Resources.
Dr. Foulkes earned his undergraduate degree from Princeton University and Masters of Business Administration and Doctor of Business Administration degrees from Harvard University.
Director since June 2001
Mr. Franklin is President and Chief Executive Officer of Franklin Sports, Inc., a leading sports equipment company. Mr. Franklin joined Franklin Sports, Inc. in 1970 and served as its Executive Vice President from 1981 to 1986, when he took over his current post.
Mr. Franklin currently serves on the Board of Directors of Bradford Soap International, Inc., The Sporting Goods Manufacturer's Association, The Retail Industry Leadership Association, and the New England chapter of the Juvenile Diabetes Research Foundation.
Mr. Franklin earned a Bachelor's degree from the University of Wisconsin.
Thomas E. Lynch
Director since March 2010
Mr. Lynch is the Senior Managing Director of Mill Road Capital, a private equity firm which focuses on investments in high quality, publicly traded companies. From 2000 until December 2004, Mr. Lynch served as a Senior Managing Director of Mill Road Associates, a financial advisory firm that he founded in 2000. Previously, he served as the Founder and Managing Director of Lazard Capital Partners and held positions at the Blackstone Group and the Monitor Company. Mr. Lynch previously served as a member of our Board from June 2003 until December 2006.
Mr. Lynch earned his Bachelor’s degree with honors from Williams College, a Master of Philosophy degree from Oxford University and Master of Business Administration degree from Stanford University.
Director since January 2016
Mr. Stoever has served as a member of our Board since January 2016. He currently serves as President and Chief Operating Officer of Monster, a global online employment company. Mr. Stoever provides day-to-day leadership and management with responsibility for spearheading the development, communication, implementation and delivery of the recruiting media, technologies, and platforms for connecting jobs and people. Mr. Stoever previously held the roles of Executive Vice President, Corporate Development and Internet Advertising at Monster.
Prior to joining Monster, Mr. Stoever served as President and Chief Executive Officer of Lycos, Inc., the early dot-com search engine and web portal. Previously, he held management positions with ON Technology Corporation, and Microcom, Inc., an early modem technology company.
Mr. Stoever serves on the board of directors for the Massachusetts High Technology Council and holds a Bachelor of Science degree from the Boston's Wentworth Institute of Technology and a Master in Business Administration from Boston University.
Director since January 2016
Mr. White has served as a member of our Board since January 2016. Mr. White served as the Chief Executive Officer and President of Jamba, Inc. and Jamba Juice Company from December 2008 until January 2016. He also served as a member of the Board of Directors of Jamba, Inc. from December 2008 until January 2016, including as Chairman of the Board of Directors from May 2010 until January 2016. Mr. White previously held senior executive roles at Safeway, Gillette and Ralston Purina. He started his career at the Coca-Cola Company.
Mr. White serves on the Board of DeVry Education Inc. and is the Non-Executive Chairman of the Board of Daymon Worldwide, Inc. He previously served on the Board of Hillshire Brands Company. Mr. White also serves as a board member of the NASDAQ Entrepreneurial Center, as well as on the board of Conscious Capitalism, Inc., both of which are nonprofit organizations.