Sbarro CEO resigns, replaced by chairman

Sbarro chief executive resigns, current board chairman named as replacement

Associated Press

MELVILLE, N.Y. (AP) -- Privately held pizza and pasta chain Sbarro Inc. on Thursday announced the resignation of its CEO and named its current board chairman as his replacement.

Sbarro said Jim Greco, who was named as CEO in January 2012, resigned to pursue other interests. Chairman J. David Karam assumed the additional duties of CEO.

Karam, the former president of burger chain Wendy's International, was named chairman at the same time that Greco was named CEO. Those appointments came two months after Sbarro emerged from bankruptcy protection.

Sbarro filed for bankruptcy protection in April 2012 when it was no longer able to contend with rising food costs and declining sales related to the recession. The Melville, N.Y., company completed its reorganization and left Chapter 11 protection in November, saying at the time that it had significantly cut its debt and received a $35 million capital infusion.

Sbarro has more than 1,000 restaurants in 40 countries.

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