John Chidsey Steps Down as Subway CEO Amid Industry Exodus
In a notable shift within the fast-food industry, John Chidsey announced his retirement as CEO of Subway, effective at the end of 2024. Chidsey, who took the helm in 2019, was the first leader of the sandwich chain from outside its founding family. His tenure was marked by significant transformations, including a comprehensive menu overhaul, relocation of executive operations to Miami, and the facilitation of Subway's $9 billion sale to Roark Capital.
Following his departure, Chidsey will continue to contribute to Subway's international growth strategy in a consulting capacity. Carrie Walsh, the company's President of Europe, Middle East, and Africa, has been appointed interim CEO while a search for a permanent successor is underway.
Transition to Norwegian Cruise Line Holdings
Shortly after announcing his retirement from Subway, Chidsey was appointed to the Board of Directors of Norwegian Cruise Line Holdings Ltd. as an independent director, effective February 5, 2025. In this role, he serves as Chairperson of the Nominating and Governance Committee and as a member of the Audit Committee. Chidsey's extensive experience in large-scale operations and corporate strategy, including his previous tenure as CEO of Burger King, is expected to provide valuable insights to the cruise line's leadership.
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A Broader Trend of CEO Departures
Chidsey's exit is part of a larger pattern of CEO transitions across various industries. According to Forbes, 222 CEOs stepped down from their roles in January 2025 alone, marking a 14% increase compared to January 2024. This surge reflects a dynamic business environment where companies are navigating post-pandemic challenges, evolving consumer behaviors, and the need for fresh leadership perspectives.
In the fast-food sector, several major chains, including Starbucks, Chipotle, Shake Shack, and Wendy's, have experienced leadership changes in recent times. These shifts underscore the industry's ongoing efforts to adapt to market demands and operational complexities.
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Conclusion
John Chidsey's departure from Subway and subsequent appointment to Norwegian Cruise Line Holdings' board exemplify the fluid nature of executive leadership in today's corporate landscape. As industries continue to evolve, the movement of seasoned executives across sectors highlights the value of diverse experience and adaptability in steering companies through periods of transformation.
