Jersey Mike’s announced Thursday that Charlie Morrison will become its new CEO, effective Monday.
The move comes about five months after the fast casual announced plans to sell a majority share to Blackstone for a reported $8 billion. Morrison will succeed founder Peter Cancro, who has led the concept since 1975. Cancro will remain as chairman and a significant minority shareholder.
Morrison previously served as chairman and CEO of Wingstop from 2012 to 2022. Under his tenure, the brand grew from fewer than 500 stores to over 2,000 in more than 10 countries, doubled AUV, and filed an IPO in 2015. The industry veteran then shifted to Salad and Go, helping the fast-food chain increase store count by nearly 7x. He also served as Pizza Inn’s president and CEO and held leadership roles with Steak and Ale and Boston Market.
“Jersey Mike’s is a unique brand with a rich history, loyal customer base and authentic culture which Peter and his talented team have cultivated over the past five decades,” Morrison said in a statement. “I have spent my career building and innovating at leading franchised brands, and what Peter has created at Jersey Mike’s is nothing short of extraordinary. I am honored to be entrusted with continuing this legacy and I could not be more excited to get to work with this incredible team and the owners who bring it to life every day. Together, we’ll focus on continuing to accelerate growth across new and existing markets and identifying opportunities to invest in additional technological advancements and innovation, while remaining true to the exceptional quality, service and community values that make Jersey Mike’s so beloved nationwide.”
Jersey Mike’s is the fastest-growing sandwich chain in America. The brand grew by a net of 314 restaurants in 2024. That’s after adding 288 and 296 restaurants, respectively, in the prior two years. Leading up to 2023, Jersey Mike’s scaled by 1,055 units over a five-year period. Going back to 2016, the brand had 1,187 restaurants on average-unit volumes of $825,000. It exited 2024 with 2,989 stores (the number is closer to 3,075 today) and AUVs of $1.339 million. The chain is on pace to more than triple in size by the end of 2026 compared to 2016.
Over the years, Jersey Mike’s has built massive awareness through sports sponsorships: NCAA basketball, baseball, football, NHL, and now the NFL. The NFL deal includes Super Bowl rights and positions the brand as the official sub sandwich sponsor. Additionally, the brand is trying to raise GM salaries over $100K, with some already earning $125K–$200K.
Cancro told QSR magazine earlier this month that 7,500 or 10,000 locations are entirely within sight. Eighty-five percent of that expansion would come from franchisees. The sandwich chain founder believes Morrison is the right person to help Jersey Mike’s reach those goals.
“In Charlie, we have found the ideal next CEO for Jersey Mike’s, and I look forward to him propelling our business even further,” Cancro said in a statement. “Having led Wingstop through a monumental period of growth and a successful IPO, he knows what it takes to lead a first-of-its-kind, category-defining brand, and I am confident he will bring that same energy and vision to Jersey Mike’s. Importantly, he also shares our values and commitment to giving to the communities we serve. I am excited to work alongside Charlie and the rest of the team as we keep doing what we do best – making a sub above.”
In conjunction with the executive move, Nigel Travis—former CEO and chairman of Dunkin’ Brands—will become lead director.
