Subway CEO John Chidsey To Step Down By Year-End

Subway announced that its CEO, John Chidsey, will retire at the end of 2024. Carrie Walsh, a Subway executive, will step in as interim CEO, according to CNN reporters Ramishah Maruf and Jordan Valinsky.

During Chidsey’s tenure, Subway implemented notable changes, such as freshly slicing deli meat in stores—a shift from its tradition of pre-sliced meat—to compete with rivals. I Photo: Subway

Chidsey, who became Subway’s first CEO from outside the founding family in 2019, led the company during a period of significant challenges and transformations.

His departure comes amid a broader trend of leadership changes in the fast-food industry, including CEOs stepping down at Starbucks, Chipotle, Shake Shack, and Wendy’s.

During Chidsey’s tenure, Subway implemented notable changes, such as freshly slicing deli meat in stores—a shift from its tradition of pre-sliced meat—to compete with rivals. Subway also emphasized digital growth and customization, integrating its menu changes with a stronger push for app-based orders.

Despite these efforts, franchisees reported minimal impact on sales, and the company faced a declining store count.

The chain closed 400 locations in the U.S. last year and ended 2023 with the lowest number of stores since 2005.

Subway, now owned by a private equity firm, has struggled to keep pace with competitors amid industry-wide headwinds and a contracting fast-food landscape.