Jersey Mike’s is set for a leadership transition as its founder and CEO, Peter Cancro, has stated he will step aside from the position. With this development, the sandwich chain giant is set to welcome Charlie Morrison as its CEO. The change will be initiated on April 28 at the fast food place.
Peter Cancro, who founded the sandwich brand and was its CEO for 50 years, will still be the chairman.
Highlights
- Charlie Morrison is set to take charge as the CEO of Jersey Mike’s, replacing its founder, Peter Cancro.
- Morrison brings three decades of experience in the restaurant franchise space, having previously held roles at Pizza Hut, Boston Market, and more.
- Peter Cancro took over the fast-casual chain’s operations in 1975, now spreading to 3,000 stores.
Jersey Mike’s Gears Up for New Leadership Under Charlie Morrison
The New Jersey-based sandwich chain shared the news regarding its new CEO on April 24. Charlie Morrison is expected to add to the company’s current growth rate in both the U.S. and other countries through expansion. Plus, the sandwich chain hopes the new CEO will make quality decisions regarding technology investments.
Peter Cancro expressed his confidence in the new CEO of the fast-food brand. Describing him as the “ideal” candidate, Cancro cited Charlie Morrison’s previous role as the Wingstop CEO. During his stint at the restaurant chain, Morrison’s strategies increased its stock value by four times in ten years.
Cancro believes that Charlie will bring the same vision to the sandwich franchise.
Morrison’s Previous Leadership Roles
Charlie Morrison is a well-known figure in the restaurant space and has more than thirty years of experience. His most recent role was that of a board member, followed by the CEO at Salad and Go. Morrison used his industry understanding to increase the drive-thru chain’s store count sevenfold.
As the CEO and chairman, he helped Wingstop reach new heights in its IPO from 2012 to 2022. His insights allowed the restaurant chain to expand from 500 to 2000 locations in 10 nations.
Before this, Morrison managed many other restaurant franchises, such as Pizza Inn, Steak and Ale, Boston Market, and Pizza Hut.
A Sneak Peek Into Jersey Mike’s Beginnings and Success
The sandwich chain’s journey goes back to 1956, when Peter Cancro started it as Mike’s Subs. Its name was modified in the late 1970s when Cancro started franchising the fast-food place.
Under Cancro’s term as the CEO, Jersey Mike’s location count has increased to 3,000, with outlets in the U.S. and Canada. Plans are being made to broaden its horizons to the UK and Europe. Jersey Mike’s is a leading sandwich chain player, with its sales second only to Subway.
The $8 billion Blackstone Deal
In one of the largest deals in the food space, Jersey Mike’s sold a majority stake to Manasquan-based Blackstone. The whopping $8 billion deal, which was implemented in March 2025, ended the fast-casual chain’s run as an independent business.
However, Peter Cancro remains a minority stakeholder at the sandwich chain.
What Lies Ahead for the Sandwich Chain?
As Jersey Mike’s advances toward its expansion plans in the UK and Europe, the entry of experienced Charlie Morrison hints at a positive chapter ahead. His previous experiences with increasing store counts at Wingstop and Salad & Go reiterate the same.
Additionally, the $8 billion Blackstone deal can help provide the needed financial backing for the sandwich chain giant’s latest vision.
