Dive Brief:
- Panera Bread has appointed Chris Finazzo as chief operating officer and Victor Siqueira as chief supply chain officer, according to a Monday press release.
- CEO Paul Carbone said the two executives would play significant roles in advancing Panera RISE, a turnaround program Carbone announced last fall.
- Both executives bring substantial restaurant experience to the fast casual chain, which could help it as it seeks to reach $7 billion in sales by 2030.
Dive Insight:
Finazzo joins the company from United Parks & Resorts, which owns SeaWorld and Busch Gardens. Finazzo spent five years at the parks company as chief commercial officer, according to his LinkedIn profile.
Prior to that, he spent more than seven years with Burger King, rising to be president of the burger brand’s North American operations. In that role he “oversaw marketing, operations, franchising, field operations, finance and development for nearly 10,000 restaurants across the United States, Canada and Latin America,” according to the press release.
In a LinkedIn post, Finazzo said he looked “forward to spending time in our cafés, learning from our team members and franchisees.”
Finazzo will use lessons drawn from this learning period to “sharpen execution in our cafes, deepen consistency across the system and deliver the kind of guest experience that keeps our guests coming back,” according to the press release.
Last year, Carbone said Panera’s turnaround would depend on operational changes that improved order accuracy and on making back-of-house labor more efficient.
Siqueira joined Panera from Oakberry, an açaí berry bowl and smoothie brand. He oversaw Oakberry’s supply chain efforts and consumer packaged goods division while the brand grew from 300 locations to 1,100 stores in about 50 countries, per the press release.
Like Finazzo, he brings experience from Restaurant Brands International, where he served as VP of supply chain at Tim Hortons. He also worked at Popeyes and Burger King. This experience with substantial multi-national brands could help Panera as it tries to improve its menu. Siqueira succeeds Gregg Waterman, who led Panera’s supply chain operations starting in 2020, according to Waterman’s LinkedIn profile.
Panera has made several major changes in the last few months. In July, it limited the previously unlimited Sip Club. In August, the chain named a new CMO and overhauled its rewards program, abandoning its longstanding surprise-and-delight system for a points-based model.
