Panera Bread Names Former Darden Exec Drew Madsen President
ST. LOUIS, MO
Panera Bread has named Former Darden and Olive Garden Senior Executive Drew Madsen as its new President and Ken Koziol as its new Executive Vice President.
"This is a pivotal time for Panera as we continue to make progress on initiatives to make Panera a better competitive alternative with expanded growth opportunities," Chairman and CEO Ron Shaich said in a press release. "Both Drew and Ken are talented and accomplished executives who will augment our organizational capabilities as we work to improve the guest experience through Panera 2.0... drive consumer excitement through innovation in food, marketing and store design; and build capabilities to grow in adjacent businesses, including catering, delivery and consumer products."
Madsen's appointment is effective immediately, and he'll now report directly to Shaich. Madsen will oversee the core café business, while Shaich focuses on strategy, growth initiatives, and innovation across the company.
Madsen most recently served as President and COO of Darden Restaurants Inc. During his nine years in that position, the casual-dining company’s number of restaurants grew by 61%, sales grew 81% and earnings per share doubled, leading to a total shareholder return of 110%, according to a press release. He also previously served as President of Darden’s Olive Garden chain and was Olive Garden’s Executive Vice President of marketing prior to that.
According to a regulatory filed by Panera, Madsen’s new annual salary is $750,000, in addition to stock awards and incentive bonuses.
Panera also named Ken Koziol as the company’s new Executive Vice President, and will oversee a range of cafe support functions in this new role.
Koziol comes to Panera from McDonald’s, where he served as Executive Vice President, Worldwide Chief Restaurant Officer. While at McDonald’s, he also served as Vice President, Worldwide Restaurant Innovation; Vice President, Worldwide Quality Assurance; and Senior Director, U.S. Supply Chain Management. Koziol received his bachelor’s degree from Northeastern Illinois University and his master’s degree in business administration from Northern Illinois University.
