Subway, one of the world's largest restaurant brands, has announced that John Chidsey, global CEO, will retire from the company at the end of 2024, after five years in the role. Carrie Walsh (Subway's current president of Europe, Middle East, and Africa and former global chief marketing officer), will assume the role of Interim CEO, while a search is conducted to identify Chidsey’s permanent successor.

"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," says 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."

Chidsey joined Subway in 2019 as the brand's first CEO outside of the founding family and led a multi-year transformation of the business. Under his leadership, Subway reportedly strengthened its market position by refreshing its menu and guest experience and accelerating digital innovation. Chidsey also led Subway's global growth strategy, with a focus on attracting well-resourced, experienced multi-unit operators and master franchisees. As a result, the brand now has over 10,000 future restaurant commitments and is said to be on track to more than double the number of new restaurant openings in 2024, compared to 2019.

"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," notes Clay Harmon, a 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."

In her role, 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, including at YUM! Brands, Pizza Hut, and PepsiCo.

Walsh joined Subway in 2019 as a member of Subway's executive leadership team and reportedly played a role in elevating the brand's U.S. and global perception and driving the company's strategic direction. According to the company, as global chief marketing officer, she helped bring thousands of customers back to the brand and strengthened 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.

"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," says 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."

Chidsey will transition to a consulting role in the hopes of helping to ensure a seamless transition, with a particular focus on helping to guide the company's international growth strategy and master franchisee relationships.

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