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Subway's CEO is stepping down

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Subway's CEO is exiting the sandwich chain as it moves to close 500 U.S. stores this year.

Suzanne Greco, the sister of the chain's late co-founder, Fred DeLuca, announced she's retiring as CEO.

"Many franchisees have felt that there has been a lack of strong leadership at headquarters and that the management team was incapable of making the right decisions to turn the ship around," one franchisee told Business Insider in an email on Wednesday.

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