Daily Newsletter

13 November 2023

Daily Newsletter

13 November 2023

Noodles & Company names interim CEO

Most recently, Drew Madsen served as the president of Panera Bread.

Umesh Ellichipuram November 13 2023

US-based restaurant chain Noodles & Company has named Drew Madsen as its interim CEO, effective immediately.

Madsen, who was Noodles & Company Board director, has assumed the new role following the departure of Dave Boennighausen.

The Board has started searching for a new permanent CEO to lead the company into its next growth phase.

Noodles & Company Board chairman Jeff Jones said: “We are very excited to have Drew step into the interim CEO role and remain on our Board.

“He is a seasoned executive with a deep understanding of our company's operations and strategy and has a successful track record as a leader in the restaurant industry.

“We have full confidence in his ability to guide the company effectively during this time as we focus on key strategic initiatives to drive top-line growth and bottom-line results and significantly enhance stockholder value.”

With vast experience in the restaurant industry, Madsen was previously associated with well-established brands, where he served as president and COO.

Most recently, Madsen served as the president of Panera Bread. Prior to Panera, he was with Darden Restaurants for 15 years.

Madsen said: “I am honoured to take on this role and work with our dedicated employees, partners, and stakeholders while we search for a permanent leader.

“As interim CEO, I will focus the Noodles team on delivering exceptional experiences to our customers and effectively implementing the initiatives that drive business growth.”

QSR was the largest channel in the French food service profit sector in 2022 dominated by independent operators

The France foodservice profit sector generated revenue of EUR125.2 billion in 2022 and is forecasted to record a CAGR of over 5% during 2022-2027 driven by an increase in the transaction count. QSR was the largest profit sector channel in 2022, followed by FSR, accommodation, and others. QSR’s popularity reflects the growing preference for convenient and affordable food offerings.

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