ATLANTA Triarc Cos. Inc. has picked three Wendy’s insiders to assume key leadership roles after the close of the companies' merger, which is expected in the second half of 2008. New officers will be: J. David Karam, president; Stephen Farrar, chief operating officer; and Ken Calwell, chief marketing officer.
According to a statement from Triarc, Karam will give up his role as president of Cedar Enterprises, a 135-unit Wendy’s franchisee, and resign from its board of directors. Karam was among the early suitors for Wendy's when the No. 3 burger chain revealed last year that it was seeking to sell itself.
Karam will succeed Kerrii Anderson, who is Wendy's current president and chief executive. Triarc had already announced that its chief executive, Roland Smith, will serve in that role at Wendy's.
Farrar will succeed Dave Near, who will go back to leading his Austin, Texas-based Wendy’s franchise company. Farrar returned to Wendy’s this spring as chief of North American operations after retiring two years earlier following 26 years with the company in various positions.
Calwell will succeed Paul Kershisnik, who was named interim chief marketing officer last February. Triarc said Kershisnik likely will retain a senior leadership role in the marketing department after handing over the CMO reins. Calwell most recently was with Domino’s Pizza as chief marketing officer and executive vice president of marketing and research and development. He also is a former Wendy's executive, having served as the company's vice president of new product marketing, researching and planning.
"With extensive backgrounds in the Wendy’s organization and years of operating experience, these executives are uniquely qualified to help lead Wendy’s during the next phase of growth and development," said Triarc chief executive Smith.
Triarc, also the parent of the Arby’s quick-service brand, and Wendy’s agreed to merge last April after a contentious bout of negotiations. The all-stock transaction is valued at $2.34 billion. The combined systems will oversee about 10,000 restaurants with sales of more than $12 billion, making Triarc the nation’s third-largest quick-service restaurant company.
