Panera Brands reveals new independent board appointments

The appointments aim to further strengthen the board's industry experience.

Courtesy of Panera Brands

Panera Brands Inc., which includes the fast-casual concept Panera Bread as well as the Caribou Coffee and Einstein Bros. brands, has announced appointments to its board of directors to bolster its restaurant industry experience as the company prepares for its next phase of growth. Patrick Grismer, previously CFO of Starbucks and lead independent director of Panera, has been named board chair. Additionally, industry veteran David Deno has joined the board and will assume the role of audit committee chair, effective immediately.

“We are incredibly pleased to announce Pat’s appointment as board chair and to welcome David to our board at a key inflection point in Panera’s long-term growth trajectory,” says Panera CEO José Alberto Dueñas. “Pat has already made meaningful contributions to the board over the past two years, and David brings impressive depth and breadth of restaurant experience that will be instrumental to our future growth.”

Grismer has served on the Panera Brands Board since 2022, including serving as audit committee chair and lead independent director since 2023. He previously served as CFO at public companies Starbucks, Hyatt Hotels, and Yum! Brands, parent company to Taco Bell, KFC, and Pizza Hut.

“I am honored to serve in this role at a pivotal time for Panera Brands, as we transform our business to meet the evolving needs of our customers,” says Grismer. “I look forward to leading our board to continue partnering with Panera’s world-class management team to unlock the company’s next phase of growth.”

Deno brings more than 40 years of general management, operations, and financial experience in the restaurant sector to the Panera Brands board. He most recently served as CEO at Bloomin’ Brands—parent company to Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill, and Fleming’s Steakhouse—and previously held key positions as CFO and COO at Yum! Brands, Pizza Hut, and Yum! Restaurants International.

Deno says, “Following decades working with many beloved restaurant and hospitality brands, the opportunity to join Panera—a pioneer of the fast-casual experience—is incredibly exciting for me. I believe Panera has tremendous potential to once again redefine fast-casual success and look forward to working with this experienced board to help Panera enter a new chapter.”

Panera Brands’ fast-casual restaurant platform includes concepts with competencies in digital and loyalty, food innovation, an Unlimited Sip Club subscription program, and new digital-forward store formats. Panera Bread has continued to see strong momentum and growth in digital channels, with digital sales accounting for more than 55% of Panera Bread’s total sales, while increasing its MyPanera loyalty base to 61 million members, the brand says. Panera Brands companies have grown to more than 3,700 units across 11 countries.