The last few years have been tumultuous for the international restaurant/deli chain Subway. Jerry Fogel, a long-time spokesman for the chain, was convicted of charges related to lewd imagery and child exploitation, causing significant trouble for the company. Despite this setback, Subway remains a popular choice for many due to its healthier food options compared to fast-food giants like Burger King and McDonald’s.
However, Subway has faced challenges in recent years, including the closure of hundreds of branches. In 2018 alone, approximately 900 branches were closed, with additional closures following thereafter. Suzanne Greco, who served as CEO of Subway, faced criticism from franchisees who felt she did not adequately support them or foster growth for the company. A survey conducted by Business Insider revealed that one-third of Subway branches in America were not profitable, leading to further dissatisfaction among franchisees.
Following pressure from franchisees and industry insiders, Greco announced her retirement as CEO. Trevor Haynes, the chief business development officer, will serve as the interim CEO. Greco’s resignation marks the first time in about 53 years that the Subway franchise will not be led by a member of the DeLuca family. Greco expressed her love for the company and brand, stating that Subway has been a part of her life since she was seven years old. However, she acknowledged the need for more balance in her life and expressed confidence in the company’s future under new leadership.
Franchisees, while slightly optimistic about the change in leadership, believe that Greco should have stepped down sooner. They hope that the new CEO will address the company’s financial challenges and lead Subway to a more prosperous future.