ST. LOUIS — The board of directors of Panera Brands has named Patrick Grismer as lead independent director while adding Michael Tattersfield as a board member. According to Panera the moves are another step in the company’s preparation for its initial public offering.
Mr. Grismer, who joined the board in 2022, currently chairs the board’s Audit Committee and brings extensive financial experience including nine years as chief financial officer at Starbucks Corp., Hyatt Hotels, and Yum! Brands.
Mr. Tattersfield has been chief executive officer of Krispy Kreme, Inc. for the past seven years. Earlier this week, Krispy Kreme said Mr. Tattersfield would be transitioning to a senior adviser role and serve as a Krispy Kreme ambassador beginning in January. Prior to Krispy Kreme he was CEO of Caribou Coffee Co.
Mr. Tattersfield is expected to be named chairman of Panera Brands’ board in January 2024.
“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 José Alberto Dueñas, CEO of Panera Brands. “Both are proven leaders with a strong track record of driving long-term value creation.”
