Subway CEO to retire, interim named
One of the world’s largest restaurant brands is searching for a new chief executive.
Sandwich giant Subway has announced that global CEO John Chidsey will retire from the company at the end of 2024, after five years of leadership in the role. Carrie Walsh, Subway's current president of Europe, Middle East and Africa (EMEA) and former global chief marketing officer, will assume the role of interim CEO while a search is conducted to find a permanent successor to Chidsey.
Chidsey joined Subway in 2019 as the brand's first CEO outside of the founding family. Under his leadership, Subway refreshed its menu and guest experience, and accelerated digital innovation. Through Subway’s global growth strategy, the chain now has over 10,000 future restaurant commitments and is on track to more than double the number of new restaurant openings in 2024, compared to 2019.
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"Under John's leadership, Subway has been transformed. His vision and passion have set a high standard that will continue to guide the brand for years to come," said Clay Harmon, member of the Subway board of directors. "Carrie is uniquely qualified to lead Subway through this transition, bringing a blend of expertise in global operations, brand innovation and digital transformation, which will bring continuity and support Subway's next chapter."
Walsh joined Subway in 2019 as a member of Subway's executive leadership team. As global chief marketing officer, she is credited by the company with bringing thousands of new and lapsed fans back to the brand and strengthening Subway's position as a leader in the quick service restaurant and sandwich industries. Most recently, Walsh served as president of EMEA, Subway's second-largest region, where she oversaw operations, finance, marketing and development activity across 50 countries and territories. Her previous experience includes time spent at YUM! Brands, Pizza Hut and PepsiCo.
"I am honored to step into the role of interim CEO, continuing to drive key initiatives to help boost franchisee profitability and delight our guests through innovation," said Walsh. "Through a collaboration with the Subway leadership team, employees and our valued franchisees, we will keep elevating the Subway experience and deliver fresh, quality food to more guests around the globe."
After his retirement, Chidsey will transition to a consulting role at Subway to ensure a seamless transition, with a focus on helping to guide the company's international growth strategy and master franchisee relationships. Recently, Subway announced new franchise agreements that would mark its entry into Paraguay and Mongolia, while significantly expanding its presence across France, the Czech Republic, Luxembourg, Belgium, Switzerland, Liechtenstein, Brazil, El Salvador and Guatemala.
"It has been a privilege to lead Subway through a period of exciting change, and I am so proud of what the team has achieved together," said Chidsey. "I've worked closely with Carrie over the past five years, and I've witnessed firsthand her deep understanding of what it takes for a global brand to grow and evolve. Combined with her steadfast commitment to Subway and its franchisees, I'm confident Carrie is the right leader to shepherd Subway through this transition as we continue to enhance our position as a leading global restaurant brand."
Founded in 1965, Subway operates nearly 37,000 restaurants across more than 100 countries.
