Panera Bread founder Ron Shaich says most CEOs end up regretting taking companies public

Panera Bread founder Ron Shaich is looking back on his career with his new book, "Know What Matters."

Panera Bread founder Ron Shaich poses for a portrait at a Panera location in Newton, Massachusetts, on Dec. 12, 2017.Panera Bread founder Ron Shaich led a public company for more than two decades, but that doesn't mean he's a fan of initial public offerings or Wall Street. The restaurant now known as Panera Bread started as a merger in 1981 between Cookie Jar, founded by Shaich, and the struggling French bakery Au Bon Pain. In total, Shaich spent 32 years at the top of the company, excluding the two years when he had technically retired but remained active as executive chair.

"With the benefit of hindsight, I have become more skeptical about raising capital — both from venture funds and from the public market," Shaich writes in the book.

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Panera Bread founder Ron Shaich says most CEOs end up regretting taking companies publicPanera Bread founder Ron Shaich’s new book “Know What Matters” looks back on his career and argues companies should rethink IPOs.
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