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.
Ironically, Panera Bread is mulling an IPO, but Shaich, who is no longer involved with the chain, directs his advice toward founders.
Even as Au Bon Pain bought St. Louis Bread Company, renamed it Panera Bread and then shed Au Bon Pain to focus on Panera's growth, Shaich's company was publicly traded.
"The reality is for 90% of the CEOs that take a company public, they live to regret it," Shaich told CNBC.
"Cava is a company that will succeed as a public company.
Persons:
Ron Shaich, Shaich, Cookie, Bon Pain, Louis, Cava, Brett Schulman, Sweetgreen hasn't, Panera, Danny Meyer's
Organizations:
III Holdings, Louis Bread Company, CNBC, Wall Street
Locations:
Cava