Sixteen months after Jacksonville-based Firehouse Subs was sold for $1 billion, its longtime chief executive officer and president of the popular homegrown restaurant chain is stepping down but says he will remain involved in the company.

Don Fox announced his retirement late Thursday night on his personal Facebook page. He has led Firehouse Subs for 20 years including the past 13 years as CEO and president.

Fox plans to remain involved with the popular sandwich shop but noted that after a total of 50 years in the restaurant industry, he is "moving on to a new stage of life."

"I will continue to serve in the role of Chairman, where I aspire to add value as needed while gaining the luxury of time to pursue additional interests" he posted.

Mike Hancock succeeds Fox. A restaurant industry veteran, Hancock has served as Firehouse Subs' chief operating officer for 13 months.

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"It’s the perfect time to turn over the helm to my successor, Mike Hancock, whom I’ve had the benefit of working with the past year," Fox posted about the leadership change.

Firehouse Subs is known for its hot specialty subs — like the Hook & Ladder, New York Steamer, Engineer and more — and firehouse-decorated restaurants.

In addition, the sandwich shop chain through its Firehouse Subs Public Safety Foundation provides lifesaving equipment to first responders nationwide.

Neither Fox nor Hancock could be reached for comment immediately.

"As I told the Firehouse team this morning, [Thursday, March 30] it has been a privilege to serve them and the brand. I could not have asked for a greater team of people to lead," Fox posted.

Firehouse Subs co-founder Robin Sorensen lauded Fox and thanked him for his hard work and dedication to the sandwich shop that Sorenson and his brother, Chris, launched in 1994 in Jacksonville when both were firefighters.

Since then, Firehouse Subs has grown — a lot.

Firehouse Subs had total sales of nearly $1.154 billion systemwide last year and a total of 1,242 restaurants, RBI said in its annual report to the U.S. Securitiesand Exchange Commission.

"The entire Sorensen Family is forever indebted and grateful for your love and friendship, leadership and vision, first-in-last-to-leave work ethic, relentless pursuit and passion for the success of our company, inspiring drive and commitment to the beliefs and values of our brand and a million other things that in the past … We’re so proud of you Don, thank you again for everything. Love you. Half off subs for life," Robin Sorensen posted in response to Fox' retirement announcement.

The leadership change comes after Firehouse Subs transitioned to the ownership of restaurant industry giant Restaurant Brands International (RBI) headquartered in Toronto, Canada.

RBI, which also owns Burger King, Popeyes and Tim Hortons, bought Firehouse Subs in an all-cash acquisition completed on Dec. 15, 2021.

On the first anniversary of the sale, Fox told the Times-Union that the transition had been going smoothly with few, if any, discernable changes from the customers' point of view.

"We’ve maintained our commitment and passion to the things that matter most to our guests: hearty and flavorful food, heartfelt service, and the support of first responders," said Fox, who had led the brand since 2003.

Passing the torch

Fox and Hancock each previously worked for other RBI-owned restaurants.

Fox has 50 years of experience in the restaurant business. He's considered an expert in the quick service and fast-casual segments of that industry. He previously worked 23 years for Burger King before joining FireHouse Subs.

Hancock has been with RBI for a decade, company officials said in a Friday news release announcing his new position leading Firehouse Subs in the United States and Canada.

“I am very excited to take on this new opportunity. Firehouse Subs has a unique combination of an incredibly strong brand, exceptional sandwiches, passionate franchisees, and an unparalleled foundation that supports firefighters and first responders across North America,” Hancock said in the news release. “There is tremendous opportunity to grow the brand and our mission across North America, and I’m looking forward to working closely with our franchisees to make that happen.”

Before joining Firehouse Subs, Hancock served as chief operating officer for Tim Hortons for nearly four years from October 2018 to April 2022. Before that, he held a series of leadership positions with Burger King including serving as head of North American Field and Business Operations, his LinkedIn profile shows.

Firehouse Subs outlook for 2023

The 2023 outlook for Firehouse Subs is good based on its performance in 2022 — the restaurant's inaugural year as part of the RBI brand, company officials have said.

Firehouse Subs "is making important progress to position the brand to accelerate development and digital growth in the years ahead, " RBI CEO José Cil said in the corporation's annual report released on Feb. 14.

Teresa Stepzinski is the dining reporter for the Times-Union. Follow her on Twitter @TeresaStepz or reach her via email at tstepzinski@jacksonville.com.

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This article originally appeared on Florida Times-Union: Changing of the guard as Don Fox steps down as Firehouse Subs CEO