Quiznos, the Denver-based toasted-sandwich chain, said Monday that Dave Deno resigned as CEO for personal reasons less than five months after his promotion.

Quiznos founder and major shareholder Rick Schaden will become the new CEO, while the company's previous CEO, Greg Brenneman, will continue in his role as executive chairman.

The shake-up comes as Quiznos last month slashed prices on its sandwiches in an attempt to lure recession- racked customers back to its stores. The company is also working on expanding the 5,000-store chain overseas and boosting profits for the privately held company's U.S. franchisees, who sometimes have had a rocky relationship with the company.

"I love the (Quiznos) brand, and I see the current economy as a big opportunity," Schaden said in an interview. "Being in the sandwich business, we're a staple food item, and it's a good time to be a staple food item. I look forward to working with our franchisees to capture that opportunity."

Deno succeeded Brenneman in September after serving as president throughout 2008. He previously worked as chief financial officer and chief operating officer at Yum Brands, the owner of Pizza Hut and Taco Bell. Deno had been commuting weekly for more than a year to his home in Louisville, Ky., while his youngest child finished high school.

"The commute was becoming unbearable, and if you set that aside, we're in a tough economy where you have to work twice as hard, not just at Quiznos but everywhere," Brenneman said. "There was no business philosophy or performance difference (between us). The commute just wasn't working."

Schaden and his father purchased the 18-store Quiznos chain in 1991 and helped it expand to become the second-largest sandwich chain after Subway.

Schaden stepped aside in 2007 to focus on his investment firms, Consumer Capital Partners and Cervantes Capital, when Brenneman succeeded him as CEO. Schaden and his family then founded America's Road Home, a Denver nonprofit focused on ending homelessness, and Consumer Capital Partners in 2007 launched fast-casual restaurant chain Smashburger.

Schaden continued to remain involved in Quiznos operations, spending the past six months working on new menu items that will be launched next month.

In addition to his executive chairman role at Quiznos, Brenneman is chairman of Quiznos investor CCMP Capital Advisors. Quiznos other equity partners are Schaden's Cervantes Capital and Brenneman's Turnworks.