Gopuff Hires Former Panera Finance Chief as its CFO

Delivery provider Gopuff, which last month laid off 10% of its workforce, has hired the former Panera Bread finance chief as its CFO, the company confirmed Monday.

Ted Stedem, Panera’s CFO for the past three years, “will be invaluable as we enter Gopuff’s next phase,” the delivery platform said in a statement.

Stedem has also served as CFO of Yum China and was also an SVP at WeWork.

“I am thrilled to join the innovative team at Gopuff as chief financial officer,” Stedem said in a statement. “As the leader instant commerce with a proven model, well-established infrastructure, technology and local presence, Gopuff is powering the future of delivery.”

Philadelphia-based Gopuff was founded in 2013 as an “instant” delivery service of food, drinks, cleaning products, over-the-counter medicines and more. The service, which operates in 1,000 cities, also delivers alcohol and prepared foods in some markets.

In July, it was reported that Gopuff was laying off more than 1,500 workers and closing 76 warehouses, the second layoff in just four months.

A number of ultra-fast delivery companies have faltered recently as consumers reemerge from pandemic life. Delivery provider Jokr ended delivery operations in June, Buyk sought bankruptcy protection in March and Fridge No More also shuttered that month.

So-called “ghost grocers” Gorillas and Getir both announced layoffs in May.

In April, Gopuff appointed Maria Renz to SVP of North America. Renz came to the company from Sofi, where she was EVP of consumer finance and wealth management. She also launched and managed Amazon’s grocery business.