Months after Subway founder and president Fred DeLuca returned to work following chemotherapy for leukaemia, the fast-food chain has this week confirmed his sister has taken on increased leadership responsibilities at the fast-food chain.
Suzanne Greco is already senior vice president, a member of the board of directors, and the strategic planning committee, and has been involved with the US food business since it was founded in 1965.
Subway, headquartered in Connecticut, is the world’s largest restaurant operator globally with more than 43,000 locations in 110 countries. It does not release revenue figures.
“Fred has and continues to lead the company as he further empowers his team to better position the company for growth,” Subway said in a statement released to media. “As a family business, he has now shared some of that responsibility with senior VP Suzanne Greco.”
A memo from DeLuca, leaked to the New York Post, revealed a new organisational chart had been sent to top Subway executives showing that all departments now report to Greco.
Like other fast-food chains Subway has been struggling to deal with changing consumer appetites, as healthier options and the slow food movement become increasingly trendy. Just this week McDonald’s reported sales for the month of January were down 1.8%, lower than the 1.2% drop predicted.
Late last year, Subway suffered a food safety scandal in China, when local media reported that a Beijing franchise had altered expiration dates on food items.
Meanwhile, relative newcomers like Shake Shack have received much more positive press in recent months. The New York institution, founded in 2000, more than doubled in value on its debut on the New York Stock Exchange, with shares opening at $47 compared with an issue price of $21.