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Thursday, May 03, 2018

The death rattle cometh: Subway's CEO is stepping down as the chain closes hundreds of stores amid franchisee backlash

https://www.mysanantonio.com/technology/businessinsider/article/Subway-s-CEO-is-stepping-down-as-the-chain-closes-12883122.php

Suzanne Greco, who is the sister of the chain's late co-founder, Fred DeLuca, announced on Wednesday that she is retiring as CEO.
Greco's retirement comes at a tumultuous time for the chain.
Subway's US store count fell by 909 last year. It lost almost three times as many locations as it did the year before. The sandwich chain told Bloomberg last week that it planned to close about 500 of its US locations this year, based on projections.
Franchisees and other internal Subway sources told Business Insider in recent months that up to one-third of the chain's more than 25,800 US locations may not be profitable and that franchisees were bracing for more closures.
Greco featured heavily in a number of franchisees' complaints about the chain.

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