Wendy's Appoints New Chairman, Nelson Peltz Steps Down

By Bobby Samwell • Saturday, September 07 07:58 • Permanent Link

The Wendy's Company has made significant changes to its board of directors, appointing Arthur B. Winkleblack as the new non-executive chairman of the board and naming Nelson Peltz as chairman emeritus. Winkleblack, who has been a member of the board since 2016 and served as lead independent director since October 2023, will succeed Peltz in his new role.

Nelson Peltz, who has been the non-executive chairman of the board since 2007, is stepping down to focus on his other board commitments and Trian's future activities. Peltz, the CEO and a founding partner of Trian Fund Management, L.P., a multi-billion asset firm, has been an influential figure in the company for nearly two decades, contributing to its growth and transformation.

In terms of share ownership, Trian Fund Management, L.P., and its affiliates beneficially own approximately 15.3% of the outstanding shares of Wendy's, reflecting a substantial shareholder involvement in the company.

The company's CEO, Kirk Tanner, expressed his gratitude to Nelson Peltz for his contributions and strategic vision, while also expressing confidence in working with Arthur Winkleblack in his new role. Additionally, Tanner highlighted the benefits of the board's composition, including a majority independent board, fully independent key board committees, and deep and diverse skills and experience that span a broad range of industries.

Wendy's, which was founded in 1969 by Dave Thomas in Columbus, Ohio, is committed to making a positive difference in the lives of others, particularly through its support of the Dave Thomas Foundation for Adoption and its signature Wendy's Wonderful Kids program.

As of now, Wendy's and its franchisees operate over 7,000 restaurants worldwide, employing hundreds of thousands of people, with a vision to become the world's most thriving and beloved restaurant brand. As a result of these announcements, the company's shares have moved 1.5% on the market, and are now trading at a price of $16.99. If you want to know more, read the company's complete 8-K report here.

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