Carbone Takes Over as CEO of Panera Brands

After several months as interim CEO of Panera Brands Inc., Paul Carbone is settling in more permanently.

Carbone previously was the chief financial officer for the company, which includes Panera Bread, Einstein Bros. Brands and Caribou Coffee. While CFO, Carbone is crediting with having helped to strengthen Panera Bread’s business by carrying out menu changes, value initiatives and guest experience improvements.

Before joining Panera Brands in 2023, he was chief financial officer at Dunkin’ Brands for nine years. During that time, Dunkin’ doubled its market capitalization after going public (in 2011).

“Paul’s commitment and significant contributions to Panera over the past two years—coupled with his impressive track record of success with both public and private companies in the industry—demonstrate that he has both the experience and the vision to lead the company through a period of transformation,” says Patrick Grismer, board chairman of Panera Brands. “Paul’s tremendous focus on building talented teams who are passionate about delivering exceptional guest experiences and best-in-class franchisee profitability make him the right person to lead Panera into this next chapter of growth.”

Carbone, meanwhile, says he looks forward to working with the team “to execute a strategic multiyear plan focused on building great teams, delivering an exceptional guest experience and driving franchise profitability.”

As of March 4, there were nearly 2,200 bakery-cafes, company and franchise, in 48 states and Washington, D.C., and in Ontario, Canada, operating under the Panera Bread or Saint Louis Bread Co. names. Einstein Bros. Brands has over 700 U.S. units, and Caribou Coffee has more than 800 coffeehouses in 11 countries.