Weekly Global News Wrap: Papa John's new pizza crust; Subway pilots career programme for employees; McDonald's loses $4bn in value after CEO firing

Here is a summary of the most interesting QSR news stories of the week from around the world.

Papa John’s in the US has introduced a new garlic Parmesan-flavored crust, their first in almost four decades. As CNN reports, the addition of the new crust is part of the company’s investment in innovation. Read more here.

Papa John’s also announced that CFO Joe Smith is stepping down in March 2020, three months after the ouster of founder and former CEO John Schnatter. The Wall Street Journal reported that the finance chief’s departure is part of newly-minted CEO Rob Lynch’s plan to “streamline” the American pizza restaurant’s management team from 16 to nine in order to boost franchisee support. Read more here.

Wendy’s in the US is considering an opt-out option for franchisees on their soon-to-roll-out breakfast platform. Nation’s Restaurant News reports that CFO Gunter Plosch said that franchisees will have an opportunity “to potentially raise concerns” if the breakfast business is not creating “enough financial returns.” Read more here.

McDonald’s Corporation lost $4 billion in value a day following its announcement of firing then-CEO Steve Easterbrook, Business Insider reported. The fast food giant fired Easterbrook for violating company policy. Read more here.

Subway in the US partnered with online college Penn Foster for a pilot programme that aims to develop workplace skills and to advance employees’ education. The programme is already introduced in 331 Subway restaurants in Central Florida. Read more here.

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