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Panera Preps IPO With Two Appointments

Panera Brands has announced the appointments of board member Patrick Grismer to lead independent director and Michael Tattersfield to the Panera Brands board of directors, effective immediately. The appointments are part of the preparations for Panera’s upcoming initial public offering.

“We are thrilled to appoint Pat to lead independent director and welcome Mike to the Panera board of directors as we continue to evolve the company’s business and governance structure in preparation for its important next chapter positioning the company to go public,” said Panera CEO José Alberto Dueñas in a statement. “Both are proven leaders with a strong track record of driving long-term value creation.”

Grismer, who joined the board in 2022, currently chairs its audit committee, and brings extensive financial experience including nine years as a public company CFO at Starbucks, Hyatt Hotels, and Yum! Brands.

Tattersfield has experience leading brands. He most recently served as CEO of Krispy Kreme for seven years, leading the company through growth and transformation. He also has public company experience, including having worked as CEO of Caribou Coffee Company. Tattersfield will be appointed chairman of the board in January 2024 and together with Grismer will help oversee and support the Panera team.

“We are delighted to welcome Mike to the board and support Pat’s step into the lead independent director role, both of which are another step in our process of assembling a group of world-class industry veterans to oversee and support the next phase of the company’s growth as a public company,” said David Bell, senior partner at investment company JAB, in a statement.

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