The Wendy’s Co. said Friday that chief operating officer Steve Farrar will retire, effective April 20.
The company does not plan to replace him, but John Peters, the company’s senior vice president of North American operations, will assume Farrar’s responsibilities for operations and business activities for company-owned and franchised restaurants in the United States and Canada.
Farrar, 62, rejoined The Wendy’s Co. in 2008. He previously had been senior vice president of the brand’s western division from 1992 to 2006, but took an early-retirement package during a strategic realignment that year. His career at Wendy’s began in 1980, after he had spent several years as a McDonald’s franchisee.
Farrar replaced Dave Near as COO in September 2008, when Wendy’s International Inc. merged with former Arby’s parent Triarc Cos. to become the Wendy’s/Arby’s Group. That partnership was dissolved last July when the company sold Arby’s Restaurant Group to Atlanta-based Roark Capital Group and renamed itself The Wendy’s Co.
Peters joined Wendy’s in 1983, and before his promotion to head of North American operations served as senior vice president of the western region from 2006 to 2010. He will report to chief executive Emil Brolick.
The Wendy’s Co. operates or franchises more than 6,500 restaurants worldwide and is based in Dublin, Ohio.