(RTTNews) -  Panera Bread Co (PNRA: News ) announced that Chief Executive Officer Ron Shaich will become Executive Chairman of the Board.

The company revealed that Bill Moreton, Executive Vice President and co-Chief Operating Officer, will become President and Cheif Executive Officer and a member.

The company said that these appointments will be effective at the adjournment of next annual meeting expected to occur on May 13, 2010.
Panera Bread also announced that its Board of Directors had approved three year share repurchase program of up to $600 million. The company expects to commence repurchases as soon as November 20, 2009.

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by RTT Staff Writer

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