Carrie Walsh Steps In As Interim CEO of Subway

Subway announced today that CEO John Chidsey will retire at the end of 2024. Carrie Walsh, currently the President of Europe, Middle East, and Africa (EMEA) for Subway and its former Global Chief Marketing Officer, will serve as Interim CEO. At the same time, the company is looking for a permanent replacement.

Walsh expressed her honor in assuming the interim role and aims to drive key initiatives to improve franchisee profitability and customer satisfaction. She will work closely with the Subway leadership team, employees, and franchisees to continue enhancing the Subway experience and deliver fresh, quality food to more customers globally.

Chidsey joined Subway in 2019 as the first CEO outside of the founding family. He led a significant business transformation, strengthening its market position by revamping its menu and guest experience and pushing digital innovation. Chidsey's global growth strategy, which focused on attracting experienced multi-unit operators and master franchisees, has resulted in over 10,000 future restaurant commitments. The company is on track to more than double the number of new restaurant openings in 2024 compared to 2019.

Subway board member Clay Harmon praised Chidsey's leadership. He stated that Walsh's blend of expertise in global operations, brand innovation, and digital transformation makes her well-suited to lead Subway through this transition.

Walsh has over two decades of experience building brands across the restaurant, retail, and consumer industries, including roles at YUM! Brands, Pizza Hut, and PepsiCo. She joined Subway in 2019 as a member of the Executive Leadership Team and played an important role in enhancing the brand's U.S. and global perception and strategic direction. As Global Chief Marketing Officer, she helped attract thousands of new and returning customers to the brand and strengthen Subway's position in the quick service restaurant and sandwich industries.

Chidsey expressed his gratitude for leading Subway through a significant change and stated his confidence in Walsh's understanding of global brand growth and evolution. Chidsey will be consulting, focusing on guiding the company's international growth strategy and master franchisee relationships.