Subway CEO John Chidsey to exit at the end of the year in latest shakeup for the sub chain
Subway on Tuesday said CEO John Chidsey is stepping down at the end of the year in the latest C-suite shakeup at a major fast-food chain, according to a report.Chidsey took the helm at the largest sub shop chain in 2019.During his tenure, he pushed promotions and deals and helped sell Subway to private equity firm Roark Capital in a more than $9 billion deal last year. The 62-year-old will stay on as a consultant at Subway to help with international expansion, as first reported by The Wall Street Journal.Subway did not immediately respond to The Post’s request for comment.Carrie Walsh, Subway’s president of Europe, Middle East and Africa and the company’s former chief marketing officer, will serve as interim chief executive while the company conducts a search for a permanent replacement.
The 48-year-old previously served in senior marketing positions at Michaels, Pizza Hut and PepsiCo, according to her LinkedIn.Chidsey’s departure is just the latest CEO switch-up at a major fast-food chain.Starbucks, Shake Shack, Papa John’s International and Wendy’s also replaced their chief executives this year as fast-food companies struggle to win over cash-strapped customers spooked by price hikes.
Fast-food chains have been pushing promotions and meal deals to entice inflation-battered customers, like McDonald’s and its uber-popular $5 Meal Deal.The Golden Arches recently announced it was extending the value meal through the first half of 2025 and adding a new “buy one, add one” option to its menu.Not all deals have been successful.
This week, Subway is ending its $6.99 sandwich meal deal – which was originally set to run through December – after it failed to bring in enough traffic, a Subway spokesperson told the Journal.The company said it will restrict the deal to online orders only through Dec.
26 and add a 20% off coupon for any sub to its app.Chidsey — the first Subway CEO to hail from an outside brand — played a role in Subway’s $9.55 bi...