The parent company of Panera Bread announced in a press release on Tuesday that the CEO of Panera Brands is stepping down after less than two decades in the place.
José Alberto Dueñas’s departure is effective soon. Dueñas, past president and CEO of Einstein Bros. Bagels, became Panera CEO in July of 2023.
” I am exceedingly glad of leading Panera during this transformative time for the business”, Dueñas said in a speech. I’m completely confident that Panera Brands ‘ future will be the best one still thanks to the proper foundation and a stellar management team.
While the board of directors is looking for a new president, the company’s latest chief financial officer Paul Carbone will serve as interim CEO. Carbone has recently been CFO at Dunkin ‘ Brands, YETI Holdings, Inc. and SharkNinja. He was made Panera’s chief financial officer in 2023.
As Panera prepares to move people, this shift comes before any other business restructuring plans. In the past few years, the business has fired hundreds of its business employees, and final collapse Panera replaced the chair of its board of directors.
The business announced plans to launch an initial public offering in 2021, but Panera pulled the deal due to a sluggish Offering business in 2022. Finally, it was reported that Panera had filed papers to come open in late 2023.
Panera did not respond to inquiries for comment on when and if the company will keep its IPO right away.
Included in Panera Brands are Einstein Bros., Caribou Coffee, and Panera Bread.
The second St. Louis Bread Co. shop opened in 1987 in Kirkwood, Missouri, by Ken and Linda Rosenthal. Some of the bakery-café sites around St. Louis continue to operate as St. Louis Bread Co. As of September, there are about 2, 200 bakery-cafes in North America.
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