The last few years have been quite challenging for Subway, the international restaurant and deli chain. However, the brand’s dedication to healthier food choices has still attracted customers who appreciate the option of customizing their sandwiches. Despite this, the chain has been forced to close hundreds of branches, indicating deeper issues within the company.
One significant blow was the conviction of Jerry Fogel, the former spokesperson for Subway, on charges related to inappropriate imagery involving children. While Fogel’s arrest and conviction did not completely deter customers, it certainly caused a significant amount of trouble and negative publicity for the chain.
Mismanagement has also been a cause for concern. Suzanne Greco, who had been the CEO of Subway, faced criticism from franchisees who believed she did not provide adequate support or foster growth for the company. A survey conducted by Business Insider revealed that one-third of Subway branches in America were not profitable, and industry insiders expressed skepticism about Greco’s leadership.
Following mounting pressure, Greco has announced her retirement, leaving the CEO position vacant for the first time in 53 years. Trevor Haynes, the chief business development officer, will serve as the interim CEO. Greco’s departure has led to a mix of opinions. While she expressed confidence in the future of the company, franchisees remain cautiously optimistic, hopeful that the new CEO will bring about positive changes and restore profitability.
In her announcement, Greco expressed her love for Subway, a company she has been involved with since she was a child. However, she realized the need for more balance in her life and believes that she has made strategic moves during her tenure. Despite her optimism, former Subway franchise manager’s interview with the New York Times suggested that Greco should have stepped down earlier.
As Subway moves into a new chapter without Greco, both the company and its franchisees are hopeful for a successful turnaround. With a new CEO on the horizon, the brand aims to emerge from its current financial challenges and reclaim its position in the fast-food industry.
