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Preheat oven to 275 degrees. Heat olive oil in a large dutch oven over medium-high heat. Season roast all over with salt and pepper, then add roast to pot and brown on all sides, about 2 minutes per side.
Transfer roast to cutting board (or plate), add onions to pan and saute until they begin to brown, about 4 - 5 minutes, adding in garlic during last minute.
Return roast to pan, pour beef broth and optional red wine over roast. Add thyme, rosemary and bay leaf to broth. Bring to a simmer, then cover pot with lid and transfer to oven and cook 2 hours.
Remove from oven, add carrots and potatoes to pot and season with salt and pepper. Cover pot and return to oven and cook 1 - 1 1/2 hours longer until roast and veggies are tender.
Remove roast and shred or cut into large pieces, while removing fat, then return to pot. Remove bay leaf and herb sprigs. Serve warm.