Panera Brands, the parent of Panera Bread, Caribou Coffee and Einstein Bros. Bagels, said Tuesday that it was preparing for an “eventual” initial public offering, as it named José Alberto Dueñas as its chief executive officer, effective July 1. Dueñas is currently the CEO of Einstein Bros. Bagels. Current CEO Niren Chaudhary will become chairman of Panera Brands. The company also said Patrick Grismer, a former chief financial officer of Starbucks Corp.

and a current independent director, will become chairman of the audit committee. The company did not say when an IPO might be launched. In July 2022, a deal for Panera to go public, through the merger with a special purpose acquisition company (SPAC), was terminated, citing deteriorating market conditions.

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