Jersey Mike's Makes Big Move After $8 Billion Sale

Jersey Mike's is making a big move after its $8 billion sale.

The New Jersey-based sub chain was acquired by Blackstone last year, in a deal that nearly reached $10 billion. The company's founder, Peter Cancro, continues to have a 10 percent stake in the company. He's serving as chairman.

However, the company is making a big move, hiring a new CEO on Thursday, April 24.

The Wall Street Journal reported on Thursday morning that Jersey Mike's is bringing on Charlie Morrison as the company's new CEO.