Fred DeLuca, who co-founded the Subway sandwich chain to finance his college studies before it grew to overtake McDonald’s Corp.in size, has died.
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In 2013, the company said DeLuca was receiving treatment for leukemia.
The business venture kicked off, and DeLuca opened a sandwich shop called “Pete’s Super Submarines” – named after Peter Buck, the friend who loaned him the money.
In addition, some feel Subway has overextended itself with its more than 27,000 USA locations.
Forbes listed his wealth at $3.5 billion.
It also came just weeks after the 50th anniversary of Subway, which is known for its “Footlong” sandwiches and says it has more than 44,000 locations around the world. Subway promotes its menu of sandwiches as “quick, nutritious meals” in contrast with other fast-food chains that rely heavily on burgers, fries, fried chicken and pizza. Jared Fogle, the longtime face of Subway, agreed in August to plead guilty to federal child-pornography charges. NAASF is an independent organization made up of North American Subway franchisees that focuses specifically on the interests of franchise owners.
Over this summer it was announced that DeLuca would remain CEO but that his sister, Suzanne Greco, would take over the day-to-day operations as the company’s president.
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DeLuca was married to his high-school sweetheart, Liz, and had a son, John, according to a 1993 article in the Los Angeles Times.
