Panera says ad agency 'did not resign'

Despite an internal memo circulated by ad agency Cramer-Krasselt, Panera says the company did not resign.

The St. Louis Business Journal reports Panera informed Cramer-Krasselt more than a week ago that it planned to put the account into review to find "breakthrough" creative and that the agency declined to compete for the contract.

Yesterday, news broke that Cramer-Krasselt's Chairman and CEO Peter Krivkovich sent out an internal memo citing reasons for ending the relationship, including the “constant last-minute shifts in direction, the behind-the-scenes politics, the enormous level of subjectivity that disregards proof of performance.”

The Chicago Tribune reports the St-Louis based restaurant chain spends $94 million annually on advertising and already is searching for a new agency.

Read more from the St. Louis Business Journal.