Quiznos Turnaround Gang Almost Gone
DENVER, CO. - The inquisitive owl has got wind that Richard Emmett, Quiznos' chief legal officer, is no longer with the fast-food chain. His bio has been pulled from the firm's executive team web page. It also is no longer posted on MyQuiznos, an Intranet site for the chain’s franchise owners.
Chief Legal Officer Emmett Leaves
Emmett joined Quiznos in May 2007 from his position with Louisville-based Papa John’s as the chain’s senior vice president and general counsel. He had the rare experience as a Quiznos senior officer to also be a franchise owner. He was a multiunit pizzaria operator around Louisville, Kentucky of Papa John's. It was Emmett who often responded directly to Blue MauMau on Quiznos numerous lawsuits. Mr. Emmett is among the last of the high-power management team that former CEO Greg Brenneman hired to help turnaround Quiznos in early 2007 and possibly to place it for an initial public offering on the stock market. Those plans went up in smoke with the collapse of Wall Street in 2008.
The remaining recruit from Brenneman’s “dream team” is Chief Operating Officer Clyde Rucker. As of Memorial Day, May 25, Rucker’s photo remains on the Quiznos executive team website, which is quite different than the erroneous rumor heard and reported a few months ago that he had left the firm.
Investment Arm Now Independent
The overhearing hooter has also learned that J.P. Morgan’s money, a banking firm that endowed Quiznos investment arm CCMP, has now completed its pullout.
Communication Gap between Franchise Owners and Senior Management Grows Wider
Besides a drop in earnings this year, franchise owners have a new complaint. They are increasingly being isolated from corporate and its management. Franchisees are growling that they don’t even have access to email addresses or phone numbers of the chain’s executives. The contact information for Quiznos management team has been pulled off MyQuiznos.com. Franchisees grumble that they are now reduced to either contacting the company’s help desk line or the fast-food chain’s independent contracted field operators (Market Captains) if they need information or help.
The prying owl understands that the company’s field operators were terminated a few months ago, replaced later by independent contractors who often were the former field operators. The good news is that franchise owners say they are being visited more. Critics say the bad news is that by outsourcing the oversight of its franchises, the company's core competency of understanding and leading a restaurant chain is weakening.
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