Wendy's Makes New CEO Official
May 26 2016 - 10:30AM
Dow Jones News
Wendy's Co. officially tapped finance chief Todd Penegor to
become the fast-food chain's chief executive, part of a previously
announced succession plan for the retiring Emil Brolick.
Mr. Penegor, who joined the burger chain in 2013 from cereal
giant Kellogg Co., last year was announced as the next CEO when Mr.
Brolick's plans to retire in mid-2016 were disclosed. Mr. Penegor
had been expected to officially to take the helm after his previous
role was filled.
Wendy's in April appointed another Kellogg executive, Gunther
Plosch, as its new finance chief, with plans for Mr. Penegor to
transfer his duties this month.
Mr. Brolick, who had been CEO since September 2011, reshaped the
company by divesting most of its restaurants to franchisees and
revamping its stores.
Mr. Penegor joined Wendy's in June 2013 and was named finance
chief that September. He was named head of its international
business in December 2014. Before that, Mr. Penegor worked at
Kellogg from 2000 to 2013 in roles including president of U.S.
snacks, chief financial officer of Kellogg Europe and chief
financial officer of Kellogg USA. Prior to Kellogg, Mr. Penegor
worked at Ford Motor Co. in various positions.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
May 26, 2016 10:15 ET (14:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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