St. Louis — Panera Brands Inc., which includes the iconic fast-casual concept Panera Bread as well as the Caribou Coffee and Einstein Bros. brands, has named Paul Carbone, currently its chief financial officer, as interim chief executive officer of Panera, effective Jan. 7, 2025. Carbone, who joined Panera in 2023, brings decades of experience in the restaurant, consumer goods and retail industries, including as long-time CFO of Dunkin’ Brands.
Carbone will lead the company while the board of directors completes a comprehensive search process, considering both internal and external candidates for the role of CEO. José Alberto Dueñas, Panera Brands’ current chief executive officer, has decided to step down from his role and will serve as special advisor to the CEO through the end of March to ensure a seamless leadership transition.
“I want to thank José for all he has done for Panera, including transforming the menu, improving restaurant-level margins and enhancing organizational agility, all of which have positioned the company for long term growth,” says Patrick Grismer, board chair for Panera Brands. “Paul is a well-respected industry veteran with a tremendous track record of success, and I look forward to continue working with him as he assumes the role of interim CEO and advances our strategies to further strengthen Panera and ignite new-unit development. Our board fully supports the current strategic direction of Panera and expects the company to stay the course on execution.”
Carbone joined Panera Brands as chief financial officer in 2023. He also spent 9 years at Dunkin’ Brands where he was CFO from 2012 to 2017. He also has been the CFO of YETI Holdings, Inc., and SharkNinja.
Panera Brands has more than 3,700 company and franchised locations across 11 countries. Panera Brands is comprised of Panera Bread®, Caribou Coffee® and Einstein Bros. Brands. As of Sept. 24, 2024, there were nearly 2,200 bakery-cafes, company and franchise, in 48 states and Washington, D.C., and in Ontario, Canada, operating under the Panera Bread® or Saint Louis Bread Co.® names. Caribou Coffee has more than 800 coffeehouses in 11 countries. Einstein Bros. Brands, consisting of Einstein Bros. Bagels®, Bruegger’s Bagels®, Noah’s New York Bagels® and Manhattan Bagel®, operates more than 700 company-owned units (excluding 286 licensed units) across the U.S.
SOURCE: Panera Brands