(Bloomberg) For Ron Shaich, the chief executive officer of Panera Bread Co., getting acquired by closely held JAB Holding Co. meant no longer having to worry about activist investors.
Shaich, who recently sold the cafe chain he founded for $7.2 billion, says that a Wall Street culture relentlessly focused on short-term profit and quarterly metrics is stifling innovation. And he adds it’s only getting worse as activist investors increasingly target the restaurant industry.