The Leadership Gap: Why Companies Struggle to Retain Top Executives
02/12/2025
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Companies invest millions in leadership development, yet many of their best executives leave within a few years. Why?
Panera Brands announced on Tuesday that José Alberto Dueñas, the company’s Chief Executive Officer, has stepped down from his position, effective immediately. Mr. Dueñas will transition to the role of Special Advisor to the company through the end of March. Concurrently, Paul Carbone, the company’s Chief Financial Officer, was appointed Interim CEO while the board of directors searched for a permanent replacement.
Mr. Dueñas assumed the CEO role in July 2023, following his tenure as President and CEO of Einstein Bagels before its merger with Panera. During his time as CEO, Panera Brands undertook several initiatives to enhance the customer experience, including menu innovations and an emphasis on digital ordering and delivery.
Mr. Carbone brings a wealth of experience to the interim CEO role. Before joining Panera in 2023, he served as Chief Financial Officer at Dunkin’ Brands for five years. His financial acumen and leadership experience are expected to provide stability and continuity during this transition period.
Panera Brands, which encompasses the popular Panera Bread, Caribou Coffee, and Einstein Bros. Bagels brands, operates in a highly competitive and dynamic market. The company faces ongoing challenges, including inflationary pressures, labor shortages, and evolving consumer preferences.
The appointment of Mr. Carbone as Interim CEO signifies a commitment to ensuring a smooth transition and maintaining operational continuity while the board of directors thoroughly searches for a permanent successor. The company will seek a leader with a strong track record of success in the restaurant industry and a deep understanding of the evolving consumer landscape.
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