Subway Co-Founder’s Death Puts Sandwich Chain in Hands of Sister
The death of Subway Restaurants Chief Executive Officer Fred DeLuca puts management of the sandwich chain in the hands of sister Suzanne Greco, who was already running day-to-day operations.
Greco was named to the role of president in June, while DeLuca struggled with terminal leukemia. While he retained the CEO title, she has gradually expanded her responsibilities at Subway, the world's largest fast-food chain by number of locations.
The company will be planning its next steps - either under Greco or a newly appointed CEO - during a time of sluggish growth and a scandal involving its former spokesman. Jared Fogle, the longtime face of Subway, agreed in August to plead guilty to federal child-pornography charges.
Subway’s US expansion has slowed in the past two years. It added 313 net restaurants last year, down from 638 in 2013 and 804 in 2012. The chain has said that it isn’t currently focused on adding locations; rather, it wants to boost sales at its existing ones.
News by Bloomberg, edited by Hospitality Ireland