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November 26, 2024

Subway restaurant chain CEO to retire

Contributed John Chidsey, the retiring CEO of Subway
By Harriet Jones

The CEO of Subway, the Connecticut-based fast food franchise, is stepping down and the company has announced a search for his successor.

John Chidsey will retire from the company at the end of this year. Carrie Walsh, who is currently president of Subway’s Europe, Middle East and Africa division, will step in as interim CEO while the search is conducted.

"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," Walsh said in a statement announcing the transition.

Chidsey joined Subway in 2019 as the brand's first CEO from outside the family of co-founder Fred DeLuca. He led a strategic sale of the closely held company to Roark Capital in 2023 for $9.55 billion.

Earlier that year, the Milford-based company also opened a new dual headquarters location in Miami.

Walsh, who also joined Subway in 2019, has previous experience with YUM! Brands, Pizza Hut and PepsiCo.

"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," Chidsey said . "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."

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