QUIZNO’S: Rick Schaden, CEO… He’s Ba-a-a-ck!

Quiznos has announced that CEO Dave Deno has resigned and the franchisor’s founder and largest shareholder, Rick Schaden, is taking over the reins again as the chief executive. 

Deno had joined Quiznos as president in 2007 and became CEO last September.  The company statement said he resigned “for personal reasons.”  Schaden had stepped down from day-to-day operations in 2007 after growing the chain from 18 franchisees in 1991 to more than 5,000 today.

In a released statement, Schaden said:

“I am excited about working closely with franchise owners to improve restaurant operations. I also look forward to spending time with the outstanding Quiznos management team developing new products. Moving forward, our strategy will be exactly as it is today. Our primary focus will be on increasing restaurant profitability for our franchise owners by bringing value and convenience to consumers so that they frequent Quiznos more often.”

Quiznos is one of the most controversial major franchise players in the nation.  According to franchise site Blue Mau Mau:

The Quiznos system has been riddled with problems and litigation over the past seven years. According to some lawsuits, franchisees allege that the company has been engaged in illegal and deceptive business practices, inducing unwitting prospects to purchase and operate Quiznos stores. The documents state that with 4,636 franchises in the U.S. today, a number that is continuing to grow, Quiznos classifies the majority of its franchisees as financially distressed.

WHAT DO QUIZNOS FRANCHISEES, INVESTORS & PUNDITS THINK OF QUIZNOS & SCHADEN’S RETURN? SHARE A COMMENT BELOW.