BREAKING NEWS: Subway asks former UK area exec to steady the ship after CEO quits

A former executive of Subway’s UK business has stepped into the global hotseat after its CEO Suzanne Greco – whose brother founded the sandwich chain more than 50 years ago – revealed she is quitting the company.

Trevor Haynes, currently chief business development officer at Subway, moved to the UK from Australia in 2009 to serve as senior area development manager for the UK and Ireland, spending four years in the role.

He will now take over as interim CEO following Mrs Greco’s retirement, which comes as the chain prepares to close more stores in the US.

In an interview with Bloomberg last month, Mrs Greco was quoted as saying that “store count isn’t everything” after it was revealed the size of its US estate shrank by 900 units last year and is poised to fall by a further 500 in 2018 as it bids to improve profitability.

Internationally the picture is different, with the chain likely to launch as many as 1,000 new franchises around the world this year.   

It is unlikely that there will be any significant strategic changes to the business while Mr Haynes remains in charge temporarily. Subway said he would be overseeing the day-to-day operations of the company while it mounts a search for a permanent CEO.

Mrs Greco, who will officially retire on 30 June, has been CEO for three years but worked for the business since 1973. Prior to running the company she was VP of operations and R&D.

She stated: “Subway has been part of my life since I was 7-years-old. I love the brand and the company, and I always will, but it’s time for me to have more balance in my life. I feel very good about the strategic moves we’ve made in the last three years, and I have confidence in the future of the company.”

Subway currently operates 44,000 restaurants in 112 countries.

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