Jose Dueñas, CEO of Panera Bread's parent company Panera Brands, has resigned effective immediately. CFO Paul Carbone will serve as interim CEO while the company searches for a permanent replacement. Dueñas' departure comes as Panera faces continued challenges in its plans to go public, including a canceled deal with a special purpose acquisition company in 2022 and a sluggish market for IPOs in 2024.
Panera Bread ’s parent company announced Tuesday that CEO Jose Dueñas is stepping down, effective immediately. The change in leadership is the latest challenge to the company’s plans to go public eventually, following several years of hurdles. Panera Brands CFO Paul Carbone will step in as interim chief executive while the board searches for a permanent replacement to lead the company, which includes Panera Bread , Einstein Bros. and Caribou Coffee.
JAB Holding, the investment arm of the Reimann family, bought Panera Bread in 2017 for $7.5 billion, taking it private and then forming Panera Brands with some of its other acquisitions. JAB has been trying to take Panera public again for years. In 2022, Panera scrapped a deal with Danny Meyer’s special purpose acquisition company, citing market conditions.
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