Wendy's has tapped PepsiCo veteran Kirk Tanner as its new chief executive, effective Feb. 5, as the burger chain tries to boost its share price and ease pressure from activist investors.
Kirk Tanner, chief executive officer of North America beverages for PepsiCo Inc., speaks during the Bloomberg Power Players Summit in Miami, Florida, U.S., on Friday, Jan. 31, 2020.
Outgoing Wendy's CEO Todd Penegor has been at the helm of the company since 2016.
Under his leadership, Wendy's successfully launched its breakfast menu nationwide, helping the company overtake Burger King as the second-largest U.S. burger chain by sales.
But if Blackwells nominates its own board candidates, it's kicking off a fight with another activist investor: Nelson Peltz, who is chair of Wendy's board.
Persons:
Tanner, Wendy's, Kirk Tanner, Todd Penegor, Burger, Blackwells, Nelson Peltz, Peltz, Trian, Ram Krishnan
Organizations:
Pepsi, PepsiCo, PepsiCo Inc, Bloomberg Power Players Summit, Reuters, Trian Fund Management, Disney
Locations:
Miami , Florida, North America, U.S, Wendy's