Following its announcement of an initial public offering (IPO), Panera’s current CEO will step down. Niren Chaudhary, who has been CEO since May 2019, will be replaced by José Alberto Dueñas, who is currently president and chief executive of Einstein Bros. Bagels.
Panera initially planned to go public through a partnership with Danny Meyer’s special purpose acquisition company (SPAC), USHG Acquisition Corp. However, the SPAC strategy was shut down due to deteriorating capital market conditions. Panera has not provided a....