The move comes in response to vigorous public outcry.
News & Analysis: Potbelly
Management blamed everything from the weather to the federal government shutdown for its bad first quarter.
Aylwin Lewis will exit the company in August.
The sandwich maker endured tough restaurant industry conditions to start 2017.
Shares of the sandwich chain rose as earnings steadily improved.
The company has shown that it can pull off adding new stores while maintaining profitability.