• by Teresa Buyikian , November 26, 2024

In an unexpected release Tuessday morning, Subway announced that that the chain’s global CEO, John Chidsey, will retire from the company at the end of the year. Carrie Walsh, Subway's current president of Europe, Middle East and Africa and former global CMO, will assume the role of interim CEO  while a search is conducted to identify Chidsey’s successor.

 Chidsey will remain in a consulting role with the company to assist with the transition.

Chidsey held the CEO position for five years, after joining the company in 2019 as the brand’s first CEO outside of the founding family. Under Chidsey’s leadership, the brand “strengthened its market position … and led Subway's global growth strategy, with a focus on attracting well-resourced, experienced multi-unit operators and master franchisees,” according to the announcement. As a result the sandwich chain currently has over 10,000 future restaurant commitments.

"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, in the release. "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."

Interim CEO Walsh will “continue to execute Subway's strategic growth plans, leveraging more than two decades of experience building brands across the restaurant, retail and consumer industries.” Prior to joining Subway in 2019, Walsh held senor roles at Yum Brands, Pizza Hut and PepsiCo. In her most recent role as President of EMEA, Subway's second-largest region, she helmed operations, finance, marketing and development activity across 50 countries and territories.