CAVA's Tricia Tolivar successfully leads IPO journey

In 2023, Tricia Tolivar, the CFO of CAVA, played a crucial role in the company's preparation for its initial public offering (IPO). The process took 18 months and required rigorous efforts along with her team, including CAVA’s CEO Brett Schulman and the Board of Trustees. They conducted multiple mock earnings calls, operating as if they were already a public company to ensure a smooth transition. This involved refining their earnings release process and conducting Q&A sessions to instill confidence in their approach. Tolivar's career journey leading to this point showcases her deep experience. She began to show an interest in accounting at a young age and quickly climbed the ranks in various companies. Notably, she served as CFO at GNC, guiding the company through its public offering while managing a bankruptcy scenario. Her work involved collaborating with various CEOs and ensuring a vital transition for GNC amid challenging times, creating a foundation for her leadership role at CAVA. At CAVA, Tolivar emphasized the importance of technology in the restaurant industry, particularly to enhance employee experience and streamline operations. She advocated for tools that simplify tasks for team members while maintaining a focus on the company's mission to infuse heart, health, and humanity into the food they serve. By integrating innovative tech seamlessly, they aimed to improve customer and employee satisfaction. An emotional highlight for Tolivar was witnessing her mother ring the bell on the floor of the New York Stock Exchange during CAVA's IPO. This moment symbolized the culmination of hard work and passionate commitment. Tolivar reflected on the lessons her mother imparted on her regarding customer service and confidence. The IPO experience, as she described, was not merely an endpoint but a stepping stone to fulfill the company’s broader mission in a transformative way.