Subway announced its new Chief Financial Officer will be Jeff Shepherd as Chief Financial Officer (CFO), from the beginning of 2024. Shepherd will report directly to Chief Executive Officer John Chidsey.
Subway agreed to be acquired by private equity company Roark Capital, ending a months-long sales process. Roark has expertise in restaurant and franchise business models, with companies in its portfolio such as Dunkin’, Cinnabon, Arby’s, Jimmy John’s and Sonic Drive-In.
Subway announced that its shareholders are exploring a possible sale of the company. There is no indication of timing or assurance that a sale will occur, the company clarifies.
Subway introduced authentic-style new Italian sandwiches throughout the US. Italian quarterback Jimmy Garoppolo will promote the range and introduce his own new Italian sub to The Vault, the brand’s exclusive menu only available on the Subway app and the official website.
Subway announced that 2021 was a record-setting year for the brand, as it beat US sales projections by almost USD 1.4 billion. The growth was supported by the launch of Eat Fresh® Refresh, a menu update Subway described as the largest in its history.
Subway updated its offerings in the US to include two new subs and the comeback of five menu items, which are returning by popular demand, according to the QSR giant.
Subway restaurants announced it is the first quick service restaurant brand to offer a one-net-carb bread option, as part of a new product test in partnership with food tech startup Hero Labs, Inc.