Early Life and Education
Ronald M. Shaich was born on December 30, 1953, in Newark, New Jersey, to Joseph and Pearl Shaich. Shaich's parents were Jewish. Shaich graduated from Livingston High School in 1971. He earned a B.A. in government and politics from Clark University in 1976, followed by an MBA from Harvard Business School in 1978.
Rise to Success
Shaich's entrepreneurial journey began early. While at Clark University, he ran a convenience store. His career took off when he co-founded Au Bon Pain Co. Inc. in 1981. He then led Au Bon Pain’s transformation. In 1999, Shaich co-founded Panera Bread. In 2017, Shaich sold Panera Bread for $7.5 billion.
Key Business Strategies
Shaich's strategy involved creating a fast-casual dining segment, focusing on quality food, and establishing a strong brand identity. He acquired the St. Louis Bread Company in 1993 to further build the Panera Bread brand. He also implemented digital capabilities and a loyalty program. Shaich focused on listening to customers and adapting to their needs to drive business decisions.
Philanthropy
Shaich is involved in philanthropic activities, including the Panera Cares initiative, which created community cafes to ensure anyone can get a meal. He also co-founded No Labels, an organization promoting bipartisan political problem-solving.