DUBLIN, OHIO — Emil Brolick, president and chief executive officer of the Wendy’s Co., has announced plans to retire in May 2016. Todd Penegor, executive-vice president, chief financial officer and international, is expected to succeed Mr. Brolick. The company is conducting an external search for a new c.f.o.
Mr. Brolick held various leadership roles from 1988 to 2000 and was named to his current position in September 2011. He is expected to continue serving on Wendy’s board of directors upon his retirement.
“Since returning to Wendy’s four years ago, Emil Brolick has guided the Wendy’s Co. to a path of profitable and sustainable growth, while transforming one of America’s most iconic brands,” said Nelson Peltz, chairman of the board of directors. “We are grateful for Emil’s service, and thrilled that we will continue to benefit from his strategic guidance as a member of the board.”
Mr. Penegor joined Wendy’s in June 2013 and has served in his current role since December 2014. Prior to joining the company, he held several key leadership positions at Kellogg Co., including vice-president of Kellogg and president of U.S. Snacks, vice-president and c.f.o. of Kellogg Europe, and vice-president and c.f.o. of Kellogg USA and Kellogg Snacks.
At Wendy’s, Mr. Penegor has helped lead such growth initiatives as restaurant reimaging and development, refranchising in the United States and Canada to accelerate expansion, whole business securitization and several share repurchasing transactions.“The board of directors is also incredibly confident in Todd Penegor assuming the president and c.e.o. role after Emil’s retirement,” Mr. Peltz said. “We have worked extensively with Todd over the past two years. His leadership skills, strategic vision for the brand, and sharp financial acumen will continue to serve Wendy's shareholders well.”