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Panera Bread’s Ron Shaich: The father of fast-casual dining

Fast-casual restaurants like Chipotle (CMG) and Sweetgreen (SG) are commonplace today, and are set to become even more ubiquitous, with their market share expected to reach $337.8 billion by 2032, according to Allied Market Research. But fast-casual dining, emphasis on the sit-down-dining part, wasn’t always a thing – at least until Panera Bread founder and former CEO Ron Shaich came along. Shaich has earned the moniker ‘father of fast-casual’ and for a good reason. Surveying a landscape that included fast food on one side and sit-down fine dining on the other, Shiach’s vision was to create something in the middle. His success has continued post-Panera, with the launch of Act III Holdings in 2018. The company has investments in a handful of businesses, including the popular Mediterranean chain, CAVA (CAVA). Yahoo Finance Executive Editor Brian Sozzi caught up with Shaich in Cambridge, MA to check out a few of the businesses he invests in, including CAVA, Life Alive, and Tatte, and to hear more from Shaich about what it’s like to be the founder of a household brand-name restaurant chain. One tip: leaning into fear. “It's constantly living with the materiality of what you're dealing with,” said Shaich. “If you don't take that leap, you're not gonna go anywhere.” Lead This Way is a new series that features personal, in-depth interviews with the business leaders shaping our world today. In these one-on-one conversations, they reveal how their approach to leadership helped them reach the top of their field. To hear more from Shaich on what it takes to succeed, click here. For more on our Lead This Way Series, click here, and tune in to Yahoo Finance every Thursday at 3 p.m. ET.


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Walgreens, Eli Lilly, Crypto CEOs and more: C-Suite Insights

Yahoo Finance sat down with CEOs across top industries, including healthcare, Bitcoin mining, and cannabis. Here are the highlights from this week's interviews. Walgreens CEO Tim Wentworth (00:00:05) Walgreens (WBA) CEO Tim Wentworth discusses the company’s plans for 2024. “The story for 2024 is pretty straightforward. It’s reenergize the retail part of our business, both front and back of the store,” Wentworth explains. “Secondly, then is… get the balance sheet and the cash position of the company squared away.” “We are not pivoting away from the stores to a healthcare strategy,” Wentworth adds, “rather we are starting with great stores and expanding out from there a set of services that we can do across the healthcare ecosystem for payers.” Eli Lilly CEO Dave Ricks (00:00:54) Eli Lilly (LLY) CEO Dave Ricks explains what the company saw in 2023, as well as what 2024 holds. “Last year was about the launch of Zepbound, introduction that happened in the fall… Mounjaro had a great year as well in diabetes,” Ricks says. “This year I think will be about some of the new data releases. As we study these drugs, not just to demonstrate they lose weight… but what happens to your broader health.” “It’s going to be an exciting decade ahead for innovation with weight loss,” Ricks adds. CleanSpark CEO Zach Bradford (00:01:21) CleanSpark (CLSK) CEO Zach Bradford discusses Bitcoin (BTC-USD) and bitcoin ETF approval. “The strength of Bitcoin is partially based on how many users use it, what adoption looks like, and what the access looks like,” Bradford says. “The Bitcoin approving ETF helps everybody view also the related industries around it as something that is a little more friendly, a little more accessible for your everyday investor.” Riot Platforms CEO Jason Les (00:02:05) Riot Platforms (RIOT) CEO Jason Les explains why spot bitcoin ETF approval is a “rising tide that will lift all boats in the industry.” “Historically, a lot of investors who may have had an interest in Bitcoin have been unable to get exposure to the asset. Now with ETFs… those investors can get indirect exposure to Bitcoin and use that as a part of their portfolio management,” Les notes. “We believe this is going to bring a huge inflow of new capital into the space that should have a very positive catalyst on the price of Bitcoin.” Tilray CEO Irwin Simon (00:02:48) Tilray (TLRY) CEO Irwin Simon notes how the company is creating something “different” and “new.” “There’s not many companies out there today that have medical cannabis, recreational cannabis, spirits and beer, medical distribution… so we’re creating something that’s different, we’re creating something that’s new,” Simon explains.


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