(REUTERS/Mike Blake)
It will no longer be a family affair at Subway.
Continue Reading Below
In a surprise move, Chief Executive Suzanne Greco is stepping down from the sandwich chain, according to the New York Post.
That means, after 53 years, the chain will no longer be led by a member of the founding family.
Greco is the sister of Subway co-founder Fred DeLuca, who died in 2015.
Subway’s chief business development officer, Trevor Haynes, was named temporary CEO.
Subway’s 26,000 U.S. restaurants make it the largest chain in the country in terms of locations.
Advertisement
The Subway board is controlled by co-founder Dr. Peter Buck and DeLuca’s widow, Elisabeth DeLuca. Greco is not a board member.
As Americans have turned to more healthful lunch choices, Subway’s sales have fallen. Five hundred stores are expected to close this year.
Subway’s downward path started soon after former TV spokesman Jared Fogle was imprisoned for soliciting sex with minors.
