Subway Chief Executive Officer John Chidsey will retire at the end of 2024 after five years in the role at the closely held sandwich chain.
Carrie Walsh, the chain’s president for Europe, Middle East and Africa will serve as interim CEO while Subway searches for Chidsey’s successor, the company said Tuesday in a statement.
Chidsey joined in 2019, becoming the first CEO from outside the company’s founding family as the chain struggled with a sales slowdown. He has tried to win back customers by refreshing the menu and opening more stores abroad for what’s already one of the world’s largest restaurant brands.
In addition, Chidsey oversaw Subway’s sale to Roark Capital Group, a prolific restaurant investor whose holdings also include Dunkin’ owner Inspire Brands.
Chidsey will take on a consulting role during the leadership transition, the company said.