 In December 2002, after this latest initiative to reignite sales growth failed and also after profits fell in seven of the previous eight quarters, Greenberg announced that he would resign at the end of the year.Cantalupo came out of retirement to become chairman and CEO at the beginning of 2003.Cantalupo started his tenure by announcing a major restructuring that involved the 2002 quarterly loss, which included the closure of more than 700 restaurants (mostly in the United States and Japan), the elimination of 600 jobs, and charges of $853 million.