Rick Schaden, Accused Of Ripping Off Franchisees, Is Back At The Helm Of Quiznos

Westword:

Rick Schaden is back on the job. The major shareholder in Quiznos has returned as CEO, replacing Dave Deno, who’d been promoted to the post fewer than five months ago. According to the announcement that Quiznos released last week, Deno resigned for personal reasons: The commute between Denver and Louisville, where his family lives, was just too difficult.
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Schaden, who’d opened three Quiznos franchises after graduating from the University of Colorado, joined with his father to buy the brand and its first eighteen stores in 1991. The younger Schaden served as CEO until 2007, leaving soon after his firm, Cervantes Capital, sold part of its Quiznos ownership to J.P. Morgan. At that point, Greg Brenneman, who has a stake in the company through his firm TurnWorks Inc., became the CEO. Brenneman is also chairman of CCMP Capital Advisors, a firm that J.P. Morgan formed to manage its investment in Quiznos.

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