Is the CFO Superseding the COO?
The COO of Firehouse Subs has recently resigned. Instead of hiring a new COO, the operational responsibilities of the company will now be split between Vince, the CFO and the CEO. Along with the recent departure of the COO of McDonald's, does this mark the decline of the COO? Vince will discuss how he is taking on operational responsibilities at Firehouse Subs, and the benefits and costs of having operations consolidated into other business units.
Vincent Burchianti, Chief Financial Officer, Firehouse Restaurant Group, Inc. (FRG), protects the core financial model for Firehouse Subs, a company with predicted 2015 revenues of $667 million. There were 33 restaurants in the system when he joined the company nearly 15 years ago as Corporate Controller. Since that time, Firehouse Subs has grown significantly (surpassing 945 restaurants at the end of 2015) and so has Burchianti’s leadership within the brand. He served as Vice President of Finance and Technology for four years and was promoted to Chief Financial Officer in 2011.
Burchianti’s focus is on financial wellness and growth, ensuring Firehouse Subs restaurant owners maximize their return on investment; however he also supervises several key franchising divisions, Information Technology, reporting/analytics and the supply chain services department.
His hands-on approach safeguards execution of a global franchise development strategy, the digital and technological needs for the company, as well as, the procurement of $215 million in groceries and equipment.