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Panera Brands appoints Paul Carbone as CFO

Panera announced the appointment of long-time industry executive Paul Carbone as Chief Financial Officer, effective August 15, 2023. He is a veteran in the restaurant industry and worked for nine years at Dunkin’ Brands where he was CFO from 2012-2017.

“I am excited for Paul to join the team as we continue to focus on long-term value-creation for Panera Brands,” said José Alberto Dueñas, CEO of Panera Brands and Panera Bread. “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.”

Over the last two years, Panera Brands companies focused on innovation in areas including digital and loyalty services, new franchise partnerships and new convenience-focused, digitally-driven store formats. Panera Bread’s digital capabilities today account for 51% of its total sales. It increased its loyalty base to 53 million members and launched a loyalty subscription model that has resulted in 25% of all Panera transactions now coming from Unlimited Sip Club members.

Panera Brands generated more than USD 4.8 billion in revenue in fiscal year 2022. It has 3,852 locations and approximately 120,000 employees, including franchisees, across 11 countries. As of July 25, 2023, there were 2,140 Panera Bread bakery-cafes in 48 states (including the District of Columbia) in the US and in Ontario, Canada, operating under the Panera Bread® or Saint Louis Bread Co.® names.

Photo: Businesswire