- Fast-food chain Wendy's has appointed Robert Wright as its new president and CEO, effective 21 May, amidst reports of a potential takeover bid by activist investor Nelson Peltz.
- Wright, who previously led Potbelly Corp and held senior roles at Domino's Pizza, will replace interim boss Kenneth Cook, who will remain as chief financial officer.
- The leadership change follows a challenging period for Wendy's, with global same-store sales falling by 10 per cent in the October-December quarter, exceeding analyst expectations.
- In response to declining performance, Wendy's closed 28 US restaurants in the fourth quarter of 2025 and plans to close a further 5 to 6 per cent (298 to 358 locations) in the first half of this year.
- The company aims to regain customers by emphasising everyday value, acknowledging that previous strategies focused too heavily on limited-time price promotions.
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Wendy’s in turmoil as new CEO takes charge with stores closing nationwide
