Subway has appointed Jeff Shepherd as its new chief financial officer, succeeding Ben Wells, who will retire at the end of this year after a 46-year career.
Shepherd will report to chief executive officer John Chidsey and oversee Subway's global finance organisation, the company noted.
He will be responsible for managing and optimising the brand's global financial performance and information security.
Commenting on the appointment, Subway CEO John Chidsey said, "Jeff has a well-earned reputation for driving strong financial results for global brands, bringing nearly 30 years of financial and accounting experience to our organisation.
"As we welcome Jeff to Subway, we also thank Ben for his significant contributions. Since joining the company in December 2019, Ben has been a key driver of our brand's global financial stability and strategic growth, contributing to 11 consecutive quarters of positive sales results."
Jeff Shepherd
Shepherd joins Subway from Advance Auto Parts, where he served as executive vice-president and chief financial officer.
He was responsible for setting the financial strategy for the business and led the company's finance functions, including controllership and tax, financial planning and analysis, treasury, internal audit, pricing, and strategy.
Before this, he served as controller for General Motors Europe and held several senior roles within the organisation.
He also held a series of leadership roles with Ernst & Young, where he developed a process for assisting global clients through bankruptcy and led tax remediation efforts.
In August of this year, Subway agreed to sell itself to private equity firm Roark Capital in a deal valuing the sandwich chain at more than $9 billion.
Earlier this year, the company said it was exploring a possible sale, drawing interest from private equity firms including Roark, Advent International, TDR Capital and TPG as well as Goldman Sachs' asset management arm.
