Panera Bread Names Earl Ellis Chief Financial Officer

Rhea-AI Summary

Panera Bread named Earl Ellis as Chief Financial Officer, effective October 20, 2025. Ellis will report to CEO Paul Carbone and join the executive leadership team.

Ellis most recently served as Executive Vice President and CFO at ABM (NYSE: ABM), a Fortune 500 facility services company with more than $8 billion in revenue and over 100,000 employees. His background includes finance leadership roles at Best Buy, Canadian Tire, Campbell Soup, Kraft Foods, and Coca-Cola, board service at Xylem, and CPA credentials. He succeeds Megan Mikolaichik, who served as interim CFO since January 2025.

Positive

• Appoints CFO with prior role at ABM (> $8B revenue)
• CFO appointment ends interim finance leadership since January 2025

Negative

• Recent CFO turnover: interim CFO in place since January 2025
• No formal financial targets or guidance disclosed with appointment

Experienced finance leader joins Panera to drive strategic growth and financial excellence

ST. LOUIS, Oct. 20, 2025 /PRNewswire/ -- Panera Bread, a leader and pioneer in the fast casual restaurant industry, today announced that Earl Ellis has been appointed Chief Financial Officer, effective immediately. Ellis will report to Chief Executive Officer Paul Carbone and join the company's executive leadership team.

"Earl is a proven finance leader who blends disciplined financial stewardship with an owner's mindset," said Paul Carbone, CEO, Panera Bread. "He has scaled complex, multi-brand organizations, led successful transformations, and developed high-performing teams. His experience will help accelerate our plan to strengthen the core business, elevate the guest experience, and drive long-term, profitable growth. Panera is entering a defining phase of evolution, building on our strong foundation, leaning into what makes this brand beloved, and sharpening our focus on the future."

Ellis most recently served as Executive Vice President and Chief Financial Officer at ABM Industries (NYSE: ABM), a Fortune 500 facility services company with more than $8 billion in revenue and over 100,000 employees. During his tenure, he led global finance, accounting, investor relations, and procurement, helped shape the company's strategic plan, executed a multi-year transformation including ERP modernization, and supported growth through M&A and capital markets initiatives.

Prior to ABM, Ellis held senior finance leadership roles at Best Buy (including CFO of Best Buy Canada and Senior Vice President of Finance in the U.S.), Canadian Tire, Campbell Soup Company, Kraft Foods, and Coca-Cola. He serves on the Board of Directors of Xylem Inc. and is a member of the Executive Leadership Council. Ellis holds a bachelor's degree in Management Economics from the University of Guelph and is a Chartered Professional Accountant (Canada).

"I am honored to join Panera at such an energizing moment for the brand," said Ellis. "Panera's strong foundation, iconic reputation, and passionate teams create an extraordinary platform for growth. I look forward to partnering with Paul and the leadership team to advance our strategy, invest with rigor, and deliver sustainable long-term growth that benefits our team members, guests, franchisees, and stakeholders."

Ellis succeeds Megan Mikolaichik, who has served as Interim Chief Financial Officer since January 2025 following Carbone's transition from CFO to CEO.

About Panera Bread
Our first bakery-cafe opened in 1987, founded with a secret sourdough starter and the belief that the best part of bread is sharing it. That vision led to the invention of the Fast Casual category with Panera at the forefront, serving as America's kitchen table centered around our delicious menu of chef-curated recipes that are crafted with care by our team members. We make food that we are proud to serve our own families, from crave-worthy soups, salads and sandwiches to mac & cheese and sweets. Each recipe is filled with ingredients we feel good about and none of those we don't because we are committed to serving our guests food that feels good in the moment and long after. While our company is now about 2,200 cafes strong, our values and belief in the lasting power of a great meal remain as strong as ever. We spend each day filling bellies, building empowered teams and inspiring communities. Nothing beats breaking bread together. 

As of September 30, 2025 there were 2,231 cafes, company and franchise, in 48 states and Washington D.C., and in Ontario, Canada, operating under the Panera Bread^® or Saint Louis Bread Co.^® names. Panera Bread is part of Panera Brands, one of the largest fast casual restaurant companies in the U.S., comprised of Panera Bread^®, Caribou Coffee^® and Einstein Bros.^® Bagels. For more information, visit panerabread.com or find us on X (@panerabread), Facebook (facebook.com/panerabread) Instagram (@panerabread) or TikTok (@panerabread).

CONTACT: press@panerabread.com

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SOURCE Panera Bread

FAQ

Who is Panera Bread's new CFO announced October 20, 2025?

Panera named Earl Ellis as Chief Financial Officer, effective October 20, 2025.

What experience does Earl Ellis bring to Panera Bread (NYSE: ABM mentioned)?

Ellis was most recently Executive VP and CFO at ABM (NYSE: ABM), a company with > $8 billion revenue and > 100,000 employees, and held senior roles at Best Buy, Canadian Tire, Campbell Soup, Kraft Foods, and Coca-Cola.

To whom will Earl Ellis report at Panera Bread and when does he start?

Ellis will report to CEO Paul Carbone and the appointment is effective immediately as of October 20, 2025.

Who did Earl Ellis succeed as Panera Bread CFO and how long was the interim period?

He succeeds Megan Mikolaichik, who served as interim CFO beginning January 2025.

Will Panera Bread provide new financial guidance with the CFO appointment?

The announcement does not disclose any new financial guidance or targets tied to the appointment.