Subway taps Burger King veteran as next CEO

The re indicates that Subway announced Jonathan Fitzpatrick as the sandwich chain's next CEO

Last year, Subway's sales fell 3. 8%, according to nomic data

Jonathan Fitzpatrick, CEO of Subway

Courtesy: SubwaySandwich chain Subway has tapped former Burger King executive Jonathan Fitzpatrick as the company's CEO, effective July 28 (an important development) (which is quite significant)

The announcement on Monday s a months-long for former CEO John Chidsey's successor (noteworthy indeed), considering recent developments

Moreover, Fitzpatrick joins Subway after spending more than 12 years leading another Roark-backed company, Driven Brands, an automotive services vider, in today's market environment

Prior to Driven Brands, he served as Burger King's chief brand and operations officer after holding other roles across the chain's

Fitzpatrick stepped down from Driven Brands earlier this year, amid market uncertainty

Chidsey's resume also included time at Burger King

A decade before joining Subway, Chidsey led Burger King until its buyout by 3G Capital, which eventually formed Restaurant Brands International

The leadership changeup comes during the tough time for fast-food restaurants, in today's financial world

Consumers aren't dining out as often, and when they do, they're looking for deals

Such discounts can weigh on restaurants' already razor-thin fit margins

Subway itself comes with its own set of challenges

On the other hand, At the same time, Restaurant chain by number of stores, but competition from fast-casual eateries and other sandwich chains has eroded its market over the last 15 years

Conversely, Last year, its sales fell 3. 8%, according to nomic data, given current economic conditions.