Subway, one of the world’s largest restaurant chains, announced today that its Global CEO, John Chidsey, will retire at the end of 2024 after five years of transformative leadership. Carrie Walsh, currently serving as Subway’s President of Europe, Middle East, and Africa (EMEA), will assume the role of Interim CEO while the company conducts a global search for Chidsey’s permanent successor.
Transformative Leadership and Record Growth
Chidsey, who made history in 2019 as the first CEO of Subway from outside the founding family, has led a multi-year transformation of the brand. His tenure was marked by a revitalized menu, a stronger digital presence, and a sharpened focus on franchisee profitability. Under his leadership, Subway expanded its global footprint, boasting over 10,000 future restaurant commitments and projecting a doubling of new openings in 2024 compared to 2019. As with any franchise brand, it will be essential to keep an eye on how many of those future restaurant commitments will formally open and what percentage could remain undeveloped.
“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,” said Clay Harmon, a member of the Subway Board of Directors.
Chidsey’s contributions extended beyond immediate growth; Subway shared that he fostered partnerships with experienced, multi-unit operators to drive long-term success. Even after stepping down, Chidsey will remain involved in a consulting role to ensure a seamless leadership transition and to continue guiding Subway’s international growth and master franchisee relationships.
Carrie Walsh: A Proven Leader for Subway’s Next Chapter
Stepping into the Interim CEO role, Carrie Walsh brings over two decades of experience in the restaurant, retail, and consumer sectors. Walsh joined Subway’s Executive Leadership Team in 2019 as Global Chief Marketing Officer, where she reinvigorated the brand’s image, winning back customers and boosting its position in the highly competitive quick-service restaurant industry.
“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,” Walsh said.
As President of EMEA, Subway’s second-largest region, Walsh oversaw operations in 50 countries, achieving growth through operational excellence and strategic innovation. Her leadership has been pivotal in advancing Subway’s global strategy and strengthening relationships with franchisees.
“Carrie is uniquely qualified to lead Subway through this transition, bringing a blend of expertise in global operations, brand innovation, and digital transformation,” added Harmon.
Before joining the team at Subway, Walsh held various senior and executive-level marketing positions with brands such as Pepsico, Pizza Hut, and Michaels. This depth of experience brings a diversified background and multiple lenses through which to look at the customer journey and the ability to oversee large scale operations.
Looking Ahead
Walsh will continue to execute Subway’s strategic growth initiatives while maintaining a commitment to the brand’s core values of delivering fresh, quality food to customers worldwide. For more on Subway’s future, read about Subway® Rolls Out Fresh Forward 2.0, Ushering in a New Era of Guest Experience and Franchisee Success.
Reflecting on his tenure, Chidsey expressed confidence in Walsh’s ability to lead during this pivotal time. “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,” he said.
Subway’s leadership change comes at a time of sustained growth and innovation for the iconic sandwich brand, ensuring that its legacy and future remain on track.
