The re indicates that Subway announced Jonathan Fitzpatrick as the sandwich chain's next CEO. Former CEO John Chidsey left the company at the end of 2024, a year after Subway's sale to Roark Capital.
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.
Chidsey retired at the end of 2024 after five years with the company. Furthermore, His tenure included the $9 (which is quite significant).
6 billion sale of the then-family owned chain to private equity firm Roark Capital in 2023.
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. With more than 19,500 locations, it is the largest U.
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.