Wendy’s Eyes Expansion With New CEO

The Wendy’s Company announced the appointment of Kirk Tanner, former CEO of PepsiCo Inc.’s North American Beverages Division, as its new president and CEO, effective February 5. Tanner, with more than 30 years of experience in the food and beverage industry, also joins Wendy’s board.

He succeeds Todd Penegor, who is stepping down after leading Wendy’s for more than a decade. Nelson Peltz, chairman of the Wendy’s board, praised Tanner’s operational leadership and customer-focused approach, expressing confidence in his ability to drive the brand’s growth and expansion.

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“We are thrilled to welcome an executive of Kirk’s caliber to the Wendy’s team,” said Peltz, in a statement. “Kirk is a proven operational leader whose customer-centric mindset and broad experience positioning and growing some of the most well-known global brands make him the ideal candidate to lead Wendy’s into its next phase of growth and expansion.”

The fast-food chain, founded in 1969, operates more than 7,000 restaurants globally and is set to report its full-year 2023 earnings on February 15. Read More: CNBC