Panera Brands names Paul Carbone as the new CFO

Panera Brands Inc. introduced a new Chief Financial Officer (CFO) on Monday as the company makes preparations for its anticipated initial public offering (IPO). Last year, the company had to cancel its IPO plans due to unfavorable market conditions.

The newly appointed CFO, Paul Carbone, assumed his position on August 15. Carbone brings with him an impressive track record, having served as CFO at Dunkin’ Brands for nine years. Carbone’s association with Panera stems from his previous role at SharkNinja, a manufacturer of small appliances. Prior to his time at Panera, he held diverse financial positions at Dunkin’, where he played a pivotal role in guiding the company through its IPO in 2011, eventually assuming the role of CFO in 2012.

His extensive experience in both the restaurant industry and the intricacies of an IPO could serve as a valuable asset to Panera Brands’ aspiration to reattempt going public. This objective has been in motion since August 2021, although Panera has refrained from providing comments regarding the ongoing progress of its IPO preparations.

Carbone is set to play a crucial role in Panera Brands’ leadership during its upcoming phase of growth. He will be stationed at Panera Bread’s support center in Newton, Massachusetts.

As of July, Panera Bread operated 2,140 locations across 48 states, the District of Columbia, and Ontario, Canada, some of which operate under the name St. Louis Bread Co. Caribou Coffee operates 769 stores in 11 countries, and Einstein Bros. Bagels, which includes Bruegger’s Bagels, New York Bagels, and Manhattan Bagel, manages 984 company-owned and franchised stores across the United States.

The current CEO of Panera Brands and Panera Bread, José Alberto Dueñas, praised Carbone’s expertise, stating, “Paul’s depth of knowledge and history of success across multiple industries, particularly in the restaurant space, and his dynamic leadership qualities make him an ideal partner as we take Panera Brands to the next level.”

Carbone expressed his excitement about joining the company, stating, “I could not be more thrilled to join this dynamic and innovative company at such an energizing and exciting time for the business. I look forward to joining an already outstanding leadership team and accelerating the momentum of Panera Brands to deliver long-term growth and success.”

Carbone’s educational background includes bachelor’s degrees from the University of Massachusetts, Amherst, and the University of South Carolina, as well as a master’s in business administration from the University of Illinois Urbana-Champaign.

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