Restaurant company says longtime leader named chairman emeritus to recognize service
The Wendy's Co. has named Arthur Winkleblack as chairman of the board, succeeding longtime chair Nelson Peltz, the company said Friday.
The Dublin, Ohio-based burger chain said Peltz has been named chairman emeritus to recognize his long-time leadership, counsel, guidance, and contributions to the board and the company.
“Nelson has been an effective and collaborative leader, and Wendy’s has greatly benefited from his strategic vision and operational skills,” said Kirk Tanner, Wendy’s CEO, in a statement. “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.”
Winkleblack has served as lead independent director since October 2023 and has been a board member since 2016. He also serves as chairman of the nominating and corporate governance committee and as a member of the audit committee, where he is a past chair. Winkleblack has also been appointed chairman of the executive committee.
Peltz, CEO and founding partner of Trian Fund Management, has served as Wendy’s non-executive chair since 2007. He is stepping down to devote more time to his other board commitments and Trian's future activities, the company said. Trian Fund Management L.P. and its affiliates own about 15.3% of Wendy’s shares.
Peltz said in a statement: "Kirk has transitioned seamlessly into the CEO role, and with the stewardship of the board, including Art's deep experience on the board along with that of my partners Peter May and Matt Peltz, senior vice chairman and vice chairman, respectively, I am confident that the company is in good hands for further growth and success.”
Wendy's, founded in 1969, has more than 7,000 restaurants worldwide.
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