Peter Cancro, founder and CEO of Jersey Mike’s Franchise Systems, has pledged $100,000 to Monmouth University’s Leon Hess Business School and an additional $10,000 to the University’s men’s basketball program. The surprise announcement was made by Cancro’s daughter, Caroline, at the University’s 2014 Distinguished Business Leaders Award Dinner on March 20, at which Cancro was honored.
During the presentation of the annual award, Monmouth University President Paul R. Brown recognized Cancro for his “entrepreneurial vision, corporate and civic leadership, and charitable commitment to the communities he serves.”
Jersey Mike’s, began as a single sub shop in Point Pleasant, NJ, now operates more than 730 restaurants in 35 states from New Jersey to California, and is headquartered in Manasquan, NJ. Since 2010, Jersey Mike’s locations throughout the country have raised nearly $7.5 million for worthy local causes. The pledge to Monmouth University coincided with Jersey Mike’s “Month of Giving,” which culminates in a “Day of Giving” on March 26. On the “Day of Giving,” Jersey Mike’s Subs is donating 100 percent of sales to more than 100 local charities including hospitals, youth organizations, food banks, and more.
A portrait of Cancro was unveiled at the event and will be displayed in the Distinguished Business Leaders Gallery located in Bey Hall, home of the University’s Leon Hess Business School.
Established in 1983, the Distinguished Business Leaders Dinner pays tribute to individuals or groups who have made an outstanding contribution to the tri-state business community. Previous honorees include publishing magnate Malcolm Forbes, Jr.; Marcy Syms, president of Syms Corporation; Lewis M. Eisenberg, chairman of Port Authority of New York and New Jersey; John K. Lloyd, president and chief executive officer of Meridian Health; and George Harms, president and chief executive officer of George Harms Construction Company, Inc.
Proceeds from the event ensure that the Leon Hess Business School continues to offer its undergraduate and graduate students the demanding curriculum, well-trained faculty, and state-of-the-art facilities they expect and deserve.