Subway CEO Announces Retirement

Subway (Milford, Conn.) announced that its current Chief Executive Officer Suzanne Greco will be retiring on June 30 after 45 years with the company.

Starting next week, the company’s Chief Business Development Officer Trevor Haynes will assume the position of interim CEO until Greco steps down at the end of next month. She will continue to serve as a senior advisor to the company.

Greco began working for the company as a teenager and joined the corporate staff immediately after college. She is sister to the chain’s late co-founder, Fred DeLuca. 

The announcement comes as the company has struggled amid an increase in store closures: Last year, the chain closed more than 900 stores, and it recently announced plans to close about 500 more this year. Greco has also been under fire from franchisees lately calling her “not qualified” to run the company, according to Business Insider.