Subway CEO John Chidsey is stepping down at the end of the year
CNN
Yet another fast food CEO is stepping down.
Yet another fast food CEO is stepping down. Subway announced Tuesday that its CEO, John Chidsey, will retire at the end of 2024. Executive Carrie Walsh will replace him as interim CEO. Chidsey, the first chief executive outside of the chain’s founding family, joined Subway as CEO in 2019. His departure marks another entry on the list of fast food chain CEOs who have stepped down this year for a variety of reasons, including Starbucks, Chipotle, Shake Shack, and Wendy’s. Subway, which is owned by a private equity firm, doesn’t reveal specifics about its sales like much of its publicly traded competition. But in recent years, the chain has struggled to keep up with sandwich-making rivals, and data from trade magazines showed that it is facing sales declines from headwinds affecting chains like McDonald’s and Starbucks too. The chain’s store count is also shrinking, closing 400 restaurants in the US last year and finishing 2023 with the lowest store count since 2005. The company also made expansive menu changes under Chidsey. Last year, the company said it would freshly slice its deli meat to compete with fast food rivals, instead of its traditional method of pre-slicing meat at factories. He also doubled down on pushing orders to its app. And prior to that, Subway revealed its most extensive menu change to date, switching gears towards more customization and digital growth.
A federal judge says the Trump administration must let more than 1,000 sidelined Voice of America employees return to work by next week.
Former judges side with Anthropic and raise concerns about Pentagon’s use of supply chain risk label
Nearly 150 retired federal and state judges have filed an amicus brief on Tuesday supporting AI company Anthropic in its lawsuit against the Trump administration for designating it a “supply chain risk,” CNN has learned.
Attacks on commercial ships in the Middle East this month have all but closed the vital Strait of Hormuz to oil tankers. One of the few alternative routes for oil exports from the region goes through the Red Sea. But now even that lifeline is in danger.
When Mona Panjwani opened One40 Rooftop, a swanky restaurant in lower Manhattan last year, one of the biggest dilemmas besides the menu was choosing the reservation platform.
What could get more expensive because of the war in Iran?
Gas prices have skyrocketed due to the US-Israel war on Iran, putting even more financial strain on many Americans’ wallets.
United Food and Commercial Union Local 7, the union representing the 3,800 striking workers, said that JBS failed to meet its demands during contract negotiations over higher wages, life-saving safety equipment and improved healthcare.
Every day brings a new complaint — or three — from the Trump administration about the American news media’s coverage of the Iran war.
Traffic through the strait, normally the conduit for a fifth of global oil output, has been severely curtailed since the start of the Iran conflict. But Iran itself is shipping oil through the waterway in almost the same volumes as before the war, earning the cash needed to sustain its economy and war effort.
How Anthropic may benefit from its fight with Trump
The price of oil rose to its highest level since July 2022 Sunday evening as the Trump administration suggested the war with Iran could last several more weeks and President Donald Trump called on the international community for help reopening the Strait of Hormuz to oil tankers.
When Melanie Galeaz posted a fan edit of “Heated Rivalry,” she didn’t know it would lead to her dream job.
The worst global oil crisis in decades could become a major problem for the Federal Reserve, whose policymakers meet this week to determine the next moves for the US economy.