Wendy’s reorganizes leadership structure to drive continued growth
By Monica Watrous, Food Business News
DUBLIN, OHIO — The Wendy’s Co. announced changes to its leadership structure to drive efficiencies across the organization following a strong first-quarter performance.
Kurt Kane has been promoted to the newly created role of president, U.S. and chief commercial officer. Abigail Pringle has been named to the new position of president, International and chief development officer.
Mr. Kane joined the company in 2015, serving primarily as chief concept and marketing officer, and added executive vice-president to his title last year. He will assume responsibility for the U.S. business, including operations, marketing and research and development, in addition to continuing to lead digital transformation efforts.
Since joining Wendy’s in 2002, Ms. Pringle has held various leadership roles and last year was named chief global development officer and International. She will continue to lead the international business, which will now include Canada, and will continue to oversee global development.
As a result of the changes, Bob Wright, executive vice-president and chief operations officer, will depart the company following a transition period through the end of May.
“As we continue to grow, we see an opportunity to increase our effectiveness by driving clear accountabilities for our growth across the organization,” said Todd A. Penegor, president and chief executive officer of Wendy’s, during a May 8 earnings call.
Net income for the first quarter ended March 31 was $31,894,000, equal to 14c per share on the common stock, which was up 58% from $20,159,000, or 8c, in the prior-year period. Results reflected higher operating profit in the current quarter and a loss recorded in the prior-year quarter on early extinguishment of debt.
Revenues totaled $408,583,000, up 7% from $380,564,000, driven by higher sales at company-operated restaurants and an increase in franchise royalty revenue and fees...