John Maguire has resigned as chief operating officer of Panera Bread Co. to become chief executive of Friendly’s Ice Cream LLC, which emerged earlier this year from bankruptcy, the bakery-café chain said Tuesday.
Panera Bread said Charles Chapman III, currently executive vice president of development and licensing for the St. Louis-based company, would succeed Maguire. The changes will be effective May 31.
At Wilbraham, Mass.-based Friendly’s, Maguire will succeed Harsha Agadi, who stepped down in early February as CEO but remained on the board of the 387-unit family-dining chain. Friendly’s COO Jim Parrish has filled the CEO spot on an interim basis.
Friendly’s filed for bankruptcy protection in October 2011 and emerged in January after closing 100 restaurants and shedding much of its debt.
Chapman joined Panera’s board in January 2008 and became chief operating officer in 2011. Previously, he served as chief operating officer at International Dairy Queen and held executive positions at Bruegger’s Bagels and Darden Restaurants Inc.
In March, Panera founder Ron Shaich returned to the chief executive suite in a title-sharing position with Bill Moreton, who remained as president and became co-CEO.
Panera Bread Co. owns and franchises 1,541 bakery-cafes under the Panera, St. Louis Bread Co. and Paradise Bakery & Café brands.