Staffing

Panera hires CFO

Provided

August 15, 2023

Panera Brands Inc., which includes Panera Bread as well as Caribou Coffee and Einstein Bros. Brands, has hired Paul Carbone as CFO.

"I am excited for Paul to join the team as we continue to focus on long-term value-creation for Panera Brands," José Alberto Dueñas, CEO of Panera Brands and Panera Bread, said in a company press release. "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."

A veteran in the restaurant industry, Carbone joins Panera Brands with financial executive experience in the restaurant, consumer goods and retail industries, including spending nine years at Dunkin' Brands, where he was CFO from 2012-2017 and during which the company doubled its market capitalization. He also has been the CFO of YETI Holdings Inc. and SharkNinja.

Panera Bread has continued to expand its leading digital capabilities, which today account for 51% of total sales, and has increased its loyalty base to 53 million members. Its loyalty subscription model, Unlimited Sip Club members, a program that offers a year's worth of unlimited beverages for the price of 10 months, has resulted in 25% of all Panera transactions.

"I could not be more thrilled to join this dynamic and innovative company at such an energizing and exciting time for the business," Carbone said in the release. "I look forward to joining an already outstanding leadership team and accelerating the momentum of Panera Brands to deliver long-term growth and success."

Panera Brands, which operates over 3,852 locations, generated over $4.8 billion in revenue in fiscal year 2022.