Panera Brands Names Interim CEO

Panera Brands has a new interim CEO in Paul Carbone. He most recently served the company, which includes Panera Bread, Caribou Coffee and Einstein Bros., as CFO.

Paul Carbone

Carbone steps into the role following José Alberto Dueñas’ decision to step down as CEO. He will serve as special advisor to the CEO through the end of March, ensuring a seamless leadership transition. Panera Brand’s board of directors will conduct a comprehensive search process, considering internal and external candidates for the CEO role.

“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, in the release. “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 says, “Panera is the pioneer of fast casual and one of the most iconic and enduring brands in our industry. 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.”

Carbone joined Panera Brands as CFO in 2023. He has substantial financial executive experience in the restaurant, consumer goods and retail industries, including spending nine years at Dunkin’ Brands where he was CFO. He also has been the CFO of Yeti Holdings and SharkNinja.

Panera Brands, one of the larger fast-casual restaurant platforms, has more than 3,700 company and franchised locations and approximately 120,000 system employees across 11 countries.