Sbarro, the operator of over 1,000 pizza outlets worldwide, which was rescued from bankruptcy last year, has named James Greco as its new president and chief executive. In addition to the appointment of Greco, J. David Karam, formerly president of Wendy's International, is to serve as Sbarro's new Chairman, Greco is the former chief executive of Bruegger's Enterprises and has been credited by industry experts with the strong performance and growth of the 28-year-old national bagel bakery chain. Nicky McGrane, who has been serving as Sbarro's interim president and chief executive is to leave the company to pursue other opportunities. He led Sbarro through its successful Chapter 11 reorganization, with the chain emerging with significantly less debt and substantial liquidity to invest in future growth. The company had struggled since August 2008, when it reported losses because of higher costs for ingredients, including cheese, flour and pasta. The company has also appointed two additional directors to its board, Desmond Hague, chief executive of Centerplate, and David Wiggins, a turnaround expert. Karam said: “We're extremely pleased to have attracted a top-tier talent like Jim to Sbarro, Jim has outstanding credentials and will provide strong leadership as the company continues to grow. At the same time, we want to recognize the contributions that Nicky made as interim chief executive. His stewardship during a difficult time for Sbarro was immensely valuable.”

Topics