Subway is clearing the way for new leadership, with current CEO John Chidsey stepping down at the end of the year. Currently, no permanent replacement is ready to take over as the next CEO. Instead, Subway President of EMEA, Carrie Walsh, will fill the position temporarily.
Walsh is no stranger to Subway’s operations or the wider fast-food market. She’s the sandwich company’s former chief operating officer and has also held positions at YUM! Brands ($YUM), Pizza Hut, and PepsiCo ($PEP). She’ll lead the company while searching for a permanent replacement.
Subway Joins Fast-Food CEO Change Trend
Subway is only the latest in a growing line of fast-food companies that have switched out their CEOs in 2024. Chipotle ($CMG), Shake Shack ($SHAK), Starbucks ($SBUX), and Wendy’s ($WEN) have all announced similar leadership changes this year.
Fast food companies are seeing CEO departures at a time when the sector is struggling. Inflation keeps many consumers from participating in frivolous spending, and rising menu prices at fast-food chains aren’t helping. Subway tried to battle this with discounts for its mainstay footlong subs alongside new menu items, but reports suggest sales are still declining alongside these challenges.
How to Buy Subway Stock
Subway is held by a private investment firm, meaning investors cannot take a stake in the business. However, there are plenty of public rivals traders can invest in instead.
Some of the top-performing fast-food stocks include McDonald’s ($MCD), Wendy’s, Starbucks, Domino’s Pizza ($DPZ), and Papa John’s ($PZZA). Comparing those stocks with TipRanks’ Stock Comparison tool, Papa John’s appears a strong contender with a Smart Score of 7, a Moderate Buy rating, and a potential upside of 17.3% based on an average price target of $58.50.
