Panera adds two directors to board

by Jeff Gelski
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ST. LOUIS - Panera Bread Co. has appointed W. Austin Ligon, co-founder and former president and chief executive officer of CarMax, Inc., and Charles (Chuck) J. Chapman III, chief operating officer of American Dairy Queen Corp., as independent directors to Panera’s board of directors. The board thus expands to six members from four members with five of the directors being independent.

Panera also appointed current board member Domenic Colasacco as lead independent director. He is president and c.e.o. of Boston Trust & Investment Management.

Mr. Ligon and Mr. Chapman were appointed to the classes of directors whose terms are set to expire in 2009 and 2010, respectively.

"Austin is a first-class executive and business strategist who has held senior planning and general management roles in the hotel, restaurant and ‘big box’ retail areas," said Ron Shaich, chairman and chief executive officer of Panera. "Chuck has an impressive track recordof building sales, rolling out concepts and developing best-in-class operating systems at a variety of well-known restaurant companies and has also served as a franchisee."

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