Panera’s Chief Financial Officer steps into the leadership role less than 18 months after joining the US coffee and fast-casual group, with the departing José Alberto Dueñas staying on as Special Advisor to the CEO for the next three months
.jpg.aspx?lang=en-GB)
Panera Brands’ café portfolio includes 2,200 Panera Bread outlets across the US and Canada | Photo credit: Panera Brands
Fast-casual restaurant group Panera Brands has appointed Chief Financial Officer Paul Carbone as Interim CEO after incumbent José Alberto Dueñas unexpectedly stepped down from the role.
In a press release, Panera Brands – which operates the Panera Bread, Caribou Coffee and Einstein Bros. Bagels brands – said Carbone has assumed the position immediately. However, Dueñas will serve as Special Advisor to the CEO until 31 March 2025 to ensure a seamless leadership transition.
Dueñas was appointed Panera Brands CEO in May 2024 as part of the coffee and food-to-go group’s preparations for a future public listing. Former Dunkin’ Chief Financial Officer Carbone joined the business three months later.
Panera Brands said Carbone will provide valuable leadership to the group while its Board of Directors undertakes a comprehensive search process for a new CEO, with both internal and external candidates under consideration.
“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,” said Patrick Grismer, Board Chair for Panera Brands.
Formed in August 2021 by Luxembourg-based conglomerate JAB Holding Company, Panera Brands currently comprises 2,200 Panera Bread bakery cafés across the US and Canada, 980 Einstein Bros. Bagels stores and over 800 Caribou Coffee outlets across 11 countries.
In July 2024, it was reported that Panera Brands was exploring a sale of Caribou Coffee and Einstein Bros. Bagels in a deal which could value the café chains at more than $1.5bn.