Konrad Meyer has been named chief financial officer of Panera Brands, effective August 22. He will succeed Ted Stedem, who is stepping down to pursue other interests.

Meyer most recently was a partner at JAB Holdings, where he helped to source and oversee the company’s investments, including its fast-casual restaurant portfolio that includes Panera Bread, Caribou Coffee and Einstein Bros. Brands. Earlier, he was interim CFO at Pret A Manger. He also spent nearly 10 years at Waterland Private Equity in various investment management positions.

“Ted has been an outstanding colleague and partner, and we are grateful for his many contributions over the last three years as Panera has continued to thrive and grow,” says Niren Chaudhary, chief executive officer of Panera Brands and Panera Bread. “At the same time, we are truly excited to welcome Konrad Meyer as Panera Brands’ chief financial officer. Konrad is a trusted partner and a friend who has extensive industry experience, including numerous financial and investment leadership positions, as well as a deep familiarity with Panera, which will make him a valuable member of our management team as we continue to execute our strategy and build on our leading portfolio of brands.”