Trim the fat from meat; season with 1/2 tsp. salt and 1/4 tsp. pepper. In a 6-qt. Dutch oven, brown the meat on all sides in the hot olive oil over medium-high heat. Transfer to a plate.
Add the bacon to the oil in pot. Cook until browned, stirring occasionally. Transfer half of the cooked bacon to a paper towel; cover and chill until serving.
Add the onion and garlic to the bacon in the pot. Cook and stir about 5 minutes until onion is tender and starting to brown. Return the roast to the pot and add broth, thyme, and rosemary. Bring to a boil and cover.
Place pot in a preheated 325-degree oven and bake for 1-3/4 hours. Add the carrots and potatoes and cover. Bake for another 45 minutes or until meat and vegetables are tender.
Transfer the meat and vegetables to a platter and cover to keep warm. Skim the fat from liquid in the pot; strain through a fine mesh sieve into a bowl. Return strained liquid to the pot and bring to a boil; reduce heat. Simmer, uncovered, 10 to 15 minutes or until slightly thickened. Serve sauce with meat and vegetables. Sprinkle with reserved bacon and additional fresh thyme.