Panera Bread Hired New Executives for Turnaround
The restaurant chain has appointed a new COO and supply chain chief to lead its operational shift.
Updated on Sept. 29, 2026 in People
Live Poll
Do you trust that major corporate restaurant turnarounds usually improve the quality of your experience?
Panera Bread has named Chris Finazzo as chief operating officer and Victor Siqueira as chief supply chain officer to bolster its internal operations. These appointments support the company's broader turnaround program, which aims to reach $7 billion in annual sales by 2030.
Why it matters
The leadership changes are designed to improve café consistency and supply chain efficiency, core components of the company's strategy to reach its 2030 sales goals. This follows a period of recent operational shifts, including changes to its rewards program and the popular Sip Club subscription.
Panera Bread has set a $7 billion annual sales goal for 2030 vs. its current revenue baseline. The company is leaning on new executive expertise, including a chief supply chain officer who helped scale Oakberry from 300 to 1,100 locations across 50 countries.
The players
Panera Bread
A national fast-casual bakery-cafe chain known for its soup, salad, and sandwich menu model.
Chris Finazzo
The newly appointed chief operating officer who brings experience from United Parks & Resorts and Burger King.
Victor Siqueira
The new chief supply chain officer with previous leadership experience at Oakberry and Tim Hortons.
Gregg Waterman
The departing supply chain leader who managed the company's supply operations since 2020.
The details
The incoming executives are tasked with overseeing café execution and supply chain integrity as part of the Panera RISE turnaround initiative. By prioritizing operational consistency, the company seeks to stabilize store-level performance following recent adjustments to its customer-facing loyalty and subscription programs. This move represents a strategic pivot to re-anchor the business model around core operational metrics after experimental changes to service offerings.
Timeline
2020: Gregg Waterman began leading Panera's supply chain operations.
July 2026: The company limited the scope of its unlimited Sip Club subscription.
August 2026: Panera completed a comprehensive overhaul of its rewards program.
September 28, 2026: Panera officially announced the new executive appointments.
2030: Panera aims to reach its target of $7 billion in annual sales.
Market Landscape
These executive hires follow the established pattern of operational restructuring under the Panera RISE turnaround program. The changes mark a departure from previous customer-focused experiments toward a renewed emphasis on internal supply chain and café execution discipline.
Operators should monitor whether the new leadership focuses on standardizing supply chain procurement or simplifying store-level operational procedures. The $7 billion target by 2030 serves as a primary benchmark for assessing if these leadership changes improve margins or customer retention.
The takeaway
The addition of new executives signals that Panera is prioritizing operational execution over aggressive customer program expansion to meet its 2030 growth targets. Business leaders should watch for shifts in supplier relationships or store-level mandates that typically follow a change in supply chain leadership.
Further reading
For more on industry leadership trends, see People.
Source note: This article includes information reported by Restaurant Dive.
Live Poll
Do you trust that major corporate restaurant turnarounds usually improve the quality of your experience?
