Nelson Peltz Appointed Chairman
Emeritus
DUBLIN,
Ohio, Sept. 6, 2024 /PRNewswire/ -- The Wendy's
Company (Nasdaq: WEN) today announced that its Board of
Directors has appointed Arthur B.
Winkleblack as non-executive Chairman of the Board. He
succeeds Nelson Peltz, who has been
named Chairman Emeritus in recognition of his long-time leadership,
counsel, guidance and contributions to the Board and the
Company.
Winkleblack has served as Lead Independent Director since
October 2023 and has been a member of
the Board since 2016. He also serves as Chairman of the Nominating
and Corporate Governance Committee and as a member of the Audit
Committee, where he is a past Chairman. Mr. Winkleblack has also
been appointed as Chairman of the Executive Committee.
Peltz has served as non-executive Chairman of the Board since
2007. He is stepping down to devote more time to his other board
commitments and Trian's future activities.
Kirk Tanner, Wendy's CEO, said:
"We are immensely grateful to Nelson for his many contributions to
Wendy's over the years. Nelson has been an effective and
collaborative Ieader, and Wendy's has greatly benefited from his
strategic vision and operational skills. I wish him the best with
his other commitments and look forward to continuing to work with
him as a significant Wendy's shareholder."
Tanner added: "I am excited to work with Art in his new role and
am confident that the entire Board and management team will
continue to work together to drive progress against the Company's
strategic growth priorities. We benefit greatly from our Board
structure and composition, which includes a majority independent
Board, fully independent key Board committees, substantial
shareholder involvement, a combination of both tenure and board
refreshment, and deep and diverse skills, experience and
perspectives that span a broad range of industries."
Peltz, CEO and a Founding Partner of Trian Fund Management,
L.P., a multi-billion asset firm which, with its affiliates,
beneficially owns approximately 15.3% of the outstanding shares of
Wendy's, said: "It's been a pleasure working with the Wendy's Board
for nearly two decades, and I'm proud of the company's growth and
transformation. Kirk has transitioned seamlessly into the CEO role,
and with the stewardship of the Board, including Art's deep
experience on the Board along with that of my partners Peter May and Matt
Peltz, Senior Vice Chairman and Vice Chairman, respectively,
I am confident that the Company is in good hands for further growth
and success."
ABOUT WENDY'S
Wendy's® was founded in 1969 by Dave Thomas in Columbus, Ohio. Dave built his business on the
premise, "Quality is our Recipe®," which remains the
guidepost of the Wendy's system. Wendy's is best known for its
made-to-order square hamburgers, using fresh, never frozen beef*,
freshly-prepared salads, and other signature items like chili,
baked potatoes and the Frosty® dessert. The
Wendy's Company (Nasdaq: WEN) is committed to doing the right thing
and making a positive difference in the lives of others. This
is most visible through the Company's support of the Dave Thomas
Foundation for Adoption® and its signature Wendy's Wonderful
Kids® program, which seeks to find a loving,
forever home for every child waiting to be adopted from the North
American foster care system. Today, Wendy's and its
franchisees employ hundreds of thousands of people across over
7,000 restaurants worldwide with a vision of becoming the world's
most thriving and beloved restaurant brand. For details on
franchising, connect with us
at www.wendys.com/franchising.
Visit www.wendys.com and www.squaredealblog.com for
more information and connect with us on X and Instagram using
@wendys, and on Facebook at www.facebook.com/wendys.
*Fresh beef available in the contiguous U.S., Alaska, and Canada.
Media Contact:
Heidi Schauer
Vice President – Communications, Public Affairs & Customer
Care
(614) 764-3368; heidi.schauer@wendys.com
Investor Contact:
Aaron Broholm
Head of Investor Relations
(614) 764-3345; aaron.broholm@wendys.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/the-wendys-company-appoints-arthur-winkleblack-chairman-of-the-board-302241004.html
SOURCE The Wendy’s Company