DUBLIN, Ohio – Todd Penegor, senior vice president and CFO of Wendy’s Company, will succeed Emil Brolick as the company’s CEO after Brolick retires in May 2016, the company announced. The company expects the transition to begin in the first quarter of 2016.
|Emil Brolick, president and CEO of Wendy's.|
“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,” said Nelson Peltz, chairman of the board.
“The board of directors is also incredibly confident in Todd Penegor assuming the president and CEO role after Emil’s retirement,” Peltz added. “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.”
Penegor has been with Wendy’s since June 2013. He was appointed CFO in December 2014. Before joining Wendy’s, Penegor served as president of US Snacks Division at Kellogg Co. from 2009 to 2013. Before joining Kellogg, he spent 12 years with Ford Motor Co. in various roles, including strategy, M&A, the controller’s office and treasury.
“I am honored to lead this great brand, and I'm grateful that we will continue to have the benefit of Emil's expertise as a member of our board of directors,” Penegor said in a statement. “With the highly qualified leadership team that Emil has assembled, and a franchise community that is actively engaged in the growth of the brand, The Wendy’s Company is well-positioned for future growth and success. I am both excited and humbled by this opportunity.”
Brolick had previously worked for Wendy’s for 12 years in a number of roles including senior vice president of new product marketing, research and strategic planning. In 2000, he left the company to join Yum! Brands Inc. While at Yum, Brolick served as president of US brand building and, prior to that, he was president and chief concept officer for Taco Bell where he is credited with revitalizing the Taco Bell brand. He returned to Wendy’s as president and CEO in September 2011.
“Serving our customers, employees, franchisees and shareholders has been one of the greatest privileges in my life,” Brolick said in a statement. “I feel honored to have been chosen as a steward of Dave Thomas’ great legacy for the Wendy’s family, and I could not be more confident in Todd Penegor as the president and CEO of The Wendy’s Company. I believe Wendy’s best days are yet to come.”