USA- Fast food giant Wendy’s has appointed Arthur Winkleback as non-executive chairman of its board.
Winkleback’s was the fast food giant’s lead independent director before his appointment. He was appointed lead independent director in October 2023.
He also served as Wendy’s chairman of the Nominating and Corporate Governance Committee and chairman of the Audit Committee.
Arthur replaces Nelson Perez, who has held the role since 2007. Perez has been named chairman emeritus. Perez revealed he stepped down to devote more time to his board commitments and help the new CEO, Kirk Tanner, fit into his new role.
The fast food giant welcomed the change, expressing gratitude for Perez’s contribution to the company. They hailed Perez’s collaborative leadership style, his operational skills and strategic vision.
The new non-executive chairman has been a member of the fast food giant’s board since 2016.
Kirk Tanner said, “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.”
The new appointment was made at a time when the fast food chain is experiencing a significant structural change.
The new appointment comes barely a month after Flynn Group expanded its product portfolio by acquiring 83 Wendy’s outlets in Pennsylvania and New Jersey.
The acquisition increased the franchisee’s Wendy’s locations to 277 across six states. The move is part of an ongoing strategy to increase Flynn Group’s presence in the QSR sector.
In May, Wendy’s has announced plans of expanding its presence in Quebec. The chain revealed it is on track to open 50 restaurants across Quebec by 2030. The company is set to open 12 new outlets by the end of 2025.
This expansion strategy requires operational excellence from the top down, which is the reason behind the current executive shake-up that began with Kirk Tanner’s appointment in early 2024.
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