Wendy's Names Todd Penegor As Its CEO

The Wendy's Company

disclosed that it appointed Todd Penegor as its CEO. This is in addition to his current role as President. The move comes as Emil Brolick has retired from management duties. The Wendy's said that Brolick announced his intention to retire in October 2015. The company indicated that Penegor has served as CFO since 2013, and has transitioned those responsibilities to Gunther Plosch, who joined the Company earlier this month. Subject to stockholder approval at the Company's Annual Meeting of Stockholders being held later today, Brolick would continue to serve on the Board of Directors, and Penegor will join the Board of Directors. The company's chairman, Nelson Peltz, said that "The transition of CEO duties from Emil Brolick to Todd Penegor has been seamless, as expected. Todd's strong leadership, operational expertise and great passion for Wendy's® will benefit the brand and all of Wendy's stakeholders. We are also very grateful for Emil's many contributions and his efforts to ensure that he retired with an excellent successor in place, and a highly capable senior leadership team." Shares of the company traded 0.24 percent down on Thursday.