Board appoints CFO Ken Cook as interim CEO.
Staff Report
The Wendy’s Company announced that it has undergone a transition at its top leadership position.
The food and beverage franchise reported that president and CEO Kirk Tanner departed the company, effective July 18, to become president and CEO of The Hershey Company.
In turn, Wendy’s board of directors appointed Ken Cook as interim CEO. Cook is the chief financial officer at Wendy’s and will also remain at that position. The board also said a comprehensive leadership search process is underway.
Prior to joining Wendy’s, Cook spent 20 years at United Parcel Service, Inc. (UPS) in roles of increasing responsibility, including having most recently served as head of financial planning and analysis. Prior to that, he served as CFO for the $60 billion U.S. Domestic segment of UPS.
“Our senior leadership team has established a very clear strategic blueprint for growth and is already beginning to execute on this strategy,” said Art Winkleblack, Wendy’s chairman of the board. “We are grateful to Ken for accepting the role of interim CEO and have the utmost confidence in him and the senior leadership team to lead the Company and to continue to execute on our growth plan.”
“I look forward to executing on the strategic priorities we shared at our Investor Day: providing fresh, famous food, delivering an exceptional customer experience, and accelerating global net unit growth,” said Cook. “We have a strong team and the right strategy in place to create value for our customers, franchisees, employees and shareholders.”
Founded in 1969, Wendy’s has more than 7,000 locations worldwide. Tanner has served as president and CEO of Wendy’s since February 2024.
“It has been a privilege to lead Wendy’s, an iconic brand, and I leave with a sense of gratitude for our employees and franchisees who make the company a truly special place,” said Tanner. “The brand is of the highest quality in the quick service restaurant industry, and I believe there is tremendous growth potential ahead for all Wendy’s stakeholders.”
Wendy’s also announced that Bradley G. Peltz has been elected to serve as a director of the company and will replace Matthew H. Peltz. The company said that Peltz resigned in order to devote more time to his other commitments.
“We are grateful to Matt for his many contributions to Wendy’s over the years. We have made tremendous progress as a brand since Matt joined the board, and we wish him all the best in his future endeavors.” Winkleblack said, “We are excited to have Brad join our Board. Brad is a Managing Director of Yellow Cab Holdings, a Wendy’s franchisee with restaurants in New York, New Jersey and Pennsylvania. His creativity and connection to our customers and franchise community will provide valuable insights to Wendy’s.”
For information about franchising, visit http://www.wendys.com/franchising.
