Panera Brands has named Paul Carbone as its permanent CEO, with the appointment taking effect immediately.
Carbone, a former Dunkin’ Brands executive, joined the fast – casual restaurant group as Chief Financial Officer in August 2023. Since 7 January 2025, he has been serving as Interim CEO following the unexpected departure of José Alberto Dueñas from the role.
In a press release, Carbone stated, “There are great opportunities in store for Panera Brands. I am confident that we are on the right track to restore Panera to its leading position in the fast – casual industry. I’m eager to collaborate with the team to implement a strategic multi – year plan centered around building strong teams, providing an outstanding guest experience, and boosting franchise profitability.”
In an interview with the Wall Street Journal, Carbone expressed his intention to reposition Panera Brands as a value – leader, emphasizing higher – quality food and well – run cafés. He said, “We’ve seen a decline in our value over the past three or four years since the Covid pandemic. That’s precisely what we’re striving to regain.”
Established in August 2021 by Luxembourg – based conglomerate JAB Holding Company, Panera Brands currently consists of 2,200 Panera Bread bakery cafés across the US and Canada, 970 Einstein Bros. Bagels stores, and over 800 Caribou Coffee outlets in 11 countries.
Over the past 12 months, the fast – casual group has been restructuring its operations in anticipation of a long – awaited public listing. In April 2024, Panera Bread, its flagship chain, introduced “the largest menu transformation in its history,” featuring fewer items, larger portions, and more frequent promotions.
In March 2025, the coffee and food – to – go chain announced plans to shut down two additional dough manufacturing facilities in the US. This is part of an ongoing transition to par – baked, frozen bread supplied by third – party bakeries. In total, Panera Bread has closed seven company – operated dough factories in the past year.
Parent company Panera Brands has also reduced Panera Bread’s corporate headcount to streamline operations and cut costs. In July 2024, reports indicated that Panera Brands was considering a $1.5 billion sale of Caribou Coffee and Einstein Bros Bagels, which, if executed, would leave Panera Bread as its only brand.
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