Benedictine Announces Jersey Mike’s Founder as 2026 Commencement Speaker
Peter Cancro to Receive Honorary Degree and Address Graduates
Peter Cancro
Benedictine College is pleased to announce that the 2026 Commencement Keynote Speaker will be Peter Cancro, founder and chairman of the board of the popular sandwich chain Jersey Mike’s. He will address the graduates during Commencement Exercises on Saturday, May 16, 2026, and will receive an Honorable Doctor of Humane Letters degree.
Cancro is the founder of Jersey Mike’s Franchise Systems, Inc., a fast-casual sub sandwich franchise, with more than 3,000 locations open and in development and over $4 billion in systemwide sales. In November of 2024, Cancro agreed to sell a majority stake in Jersey Mike’s to Blackstone at a reported $8 billion valuation, including debt. He stepped down as CEO and took on the role of Chairman of the Board in April of 2025.
Cancro began his business career in 1971 at the age of 14 with his first job at a place called Mike’s Subs. In high school he was the captain of the football team and class president. In 1975, at the age of 17, he gave up a potential college football career to buy the sub shop. Peter credits Rod Smith, his youth football coach and area banker, with making it all possible by loaning him $125,000 to buy the shop.
In 1987, he changed the name of the original Mike’s Subs to “Jersey Mike’s” and began his national expansion. In 2024, Jersey Mike’s ranked #2 on Entrepreneur’s Franchise 500, the company’s sixth year on the Franchise 500 top 10 list. The Manasquan, New Jersey-based business recorded $3.3 billion in systemwide sales from more than 2,800 stores in 2023.
One of the secrets to Cancro’s success is his philosophy of “giving.” Charities, hospitals, school systems and numerous individuals have benefited from his support, more than ever will be known. It’s a philosophy that he has emphasized to each and every Jersey Mike’s franchise owner: support the community that supports you.
An example of this giving spirit is Jersey Mike’s Annual “Month of Giving” in March. Jersey Mike’s national fundraiser culminates on “Day of Giving,” the last Wednesday of March, when Jersey Mike’s franchise owners donate 100 percent of the day’s sales — not just profit — to local charities across the country. Since Month of Giving began in 2011, Jersey Mike’s has raised more than $143 million for local charities.
Cancro has received numerous awards recognizing his vision and commitment to giving. He made the Nation’s Restaurant News Power List in both 2017 and 2021. He was named #1 Most Admired Fast-casual Leader in QSR’s 2019 Reader’s Choice Awards as well as the International Franchise Association’s “Entrepreneur of the Year” and a Nation’s Restaurant News Golden Chain Award Winner in 2013.
