Subway CEO John Chidsey to retire at end of the year

Sandwich chain Subway announced on Tuesday that CEO John Chidsey will retire at the end of the year.

"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," he said in a statement.

Chidsey has served as chief executive since 2019 and is the first outside Subway's founding family.

Subway, owned by Roark Capital, has undergone many changes while Chidsey has been CEO.

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In 2021, for example, the company implemented a swath of updates to its ingredients. That was followed a year later by the unveiling of the "Subway Series" menu. 

Subway also brought deli slicers and freshly sliced meats to its restaurants last year.

When he retires as CEO, Chidsey will consult at Subway with a "particular focus on helping to guide the company’s international growth strategy and master franchisee relationships."

Carrie Walsh, Subway's Europe, Middle East and Africa division president, will succeed Chidsey on an interim basis. She has been with the company for five years.

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Subway board member Clay Harmon said Walsh was "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."

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The chain has nearly 37,000 restaurants around the world, and in October, reported that it has notched more than 10,000 future restaurant commitments.