Panera Brands announced Tuesday that José Alberto Dueñas has stepped down as CEO of the company, effective immediately. The St. Louis-based parent company to Panera Bread, Caribou Coffee, and Einstein Brands has named chief financial officer Paul Carbone as interim CEO while a search for a new long-term chief executive begins.
“I am immensely proud of leading Panera during this transformative period for the company,” Dueñas said in a statement. “With the strategic foundation and a phenomenal leadership team in place, I'm totally confident the best is yet to come for Panera Brands.”
Dueñas was named CEO of Panera Brands in July 2023 after serving as president and CEO of Einstein Bagels before the brand was merged with Panera by parent company JAB Holding Company. Before Dueñas, Niren Chaudhary was CEO of Panera, making Carbone the third Panera CEO in less than two years.
Before Carbone joined Panera in August 2023, he previously served in c-suite leadership positions at multiple companies, including CFO of Dunkin Brands, where he worked until 2017. As interim CEO, he will be tasked with moving Panera forward on its long-term goal of new unit development.
“Panera is the pioneer of fast casual and one of the most iconic and enduring brands in our industry,” Carbone said in a statement. “Over the last year, we have listened to our guests, our team members and our franchisees, and have innovated behind our core product offerings to ensure that Panera continues to be a category leader known for distinctive, high-quality food and an exceptional guest experience. Being a leader in this effort is a tremendous opportunity and I am excited to partner with our management team and franchisees to unlock Panera’s next phase of growth.”
Panera Brands has seen a lot of transformation over the past year, leading up to the company’s future IPO launch, including a menu overhaul last March, the shuttering of several dough manufacturing facilities, a round of corporate layoffs in October, and new executive board appointments in November.
Panera Brands clarified that Dueñas will serve as Special Advisor to the CEO through the end of March to ensure a seamless leadership transition.
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