Danny Meyer remains Executive Chairman; Chip Wade, current President and COO of USHG, becomes CEO effective September 6, 2022 NEW YORK, Aug. 1, 2022 /PRNewswire/ -- Union Square Hospitality Group (USHG) today announced that, effective September 6, 2022, Chip Wade, current President & COO of USHG, will become Chief Executive Officer, and will join the USHG Board of Directors. Danny Meyer, Founder and current Chief Executive Officer, will continue as Executive Chairman of USHG. Chip Wade joined USHG as President and COO in May of 2019. Since then, Chip and Danny have established and begun implementing a long-term growth plan for the company, including the assembly of an industry-leading senio

Panera Will Continue to Prepare for and Explore an IPO, as Market Conditions Improve Panera Brands Inc., which includes the iconic fast casual and hospitality brand Panera Bread as well as Caribou Coffee and Einstein Bros. Bagels, today announced that there will be no extension of its investment agreement with USHG Acquisition Corp. (NYSE:HUGS) ("HUGS"), in light of unfavorable capital market conditions, including the deterioration of the market for initial public offerings over the past several months. While the parties have collaborated closely since the initial announcement of the transaction, they have agreed not to extend the agreement, which lapsed on June 30, 2022. Panera Brands wi

Danny Meyer and USHG Acquisition Corp. to Resume Active Search for Category-leading Business that Embraces Enlightened Hospitality USHG Acquisition Corp. (NYSE:HUGS) ("HUGS"), a company sponsored by an affiliate of Union Square Hospitality Group, LLC, a leading hospitality business, and Panera Brands Inc. ("Panera") announced today that, due to deteriorating capital market conditions, the parties have decided not to extend their previously announced agreement through which HUGS would have participated alongside the Panera Brands' initial public offering. Danny Meyer, Chairman of HUGS and founder of Union Square Hospitality Group said, "Based on current capital market conditions, it is unl

Panera Brands will pursue a traditional IPO with Mr. Meyer and USHG Acquisition Corp. as key partners Mr. Meyer to become Lead Independent Director of Panera Brands Board Panera Brands, which includes the iconic fast casual and hospitality brand Panera Bread as well as Caribou Coffee and Einstein Bros. Bagels, and USHG Acquisition Corp. (NYSE:HUGS) ("HUGS"), a company sponsored by an affiliate of Union Square Hospitality Group, LLC, one of the world's leading hospitality businesses, announced today that they have signed an agreement through which HUGS will become a cornerstone partner with Panera Brands (the "Transaction"). Danny Meyer will also invest directly in Panera Brands at the tim

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