Fast-food chain Wendy's has appointed Robert Wright as its new president and chief executive officer, effective 21 May, as the company grapples with declining sales and a potential takeover bid from activist investor Nelson Peltz.
New Leadership Amid Struggles
Wright, who previously led Potbelly Corp and held senior roles at Domino's Pizza, will replace interim boss Kenneth Cook. Cook will remain as chief financial officer. The leadership change comes at a critical time for Wendy's, which reported a 10 per cent drop in global same-store sales during the October-December quarter, a figure that exceeded analyst expectations.
Store Closures and Strategic Shift
In response to the poor performance, Wendy's closed 28 US restaurants in the fourth quarter of 2025 and plans to shutter an additional 5 to 6 per cent of its locations—amounting to between 298 and 358 stores—in the first half of this year. The company aims to win back customers by focusing on everyday value, acknowledging that previous strategies relied too heavily on limited-time price promotions.
Industry analysts suggest that the new CEO faces a challenging road ahead, with increasing competition from rivals such as McDonald's and Burger King, as well as shifting consumer preferences toward healthier options. Wright's experience at Domino's, where he helped drive growth through digital innovation and value offerings, may prove valuable in turning around Wendy's fortunes.
Wendy's shares have fallen sharply over the past year, and the potential takeover bid by Nelson Peltz's Trian Fund Management adds further uncertainty. Peltz, known for pushing for changes at companies like Procter & Gamble and DuPont, has not publicly commented on his plans for Wendy's.
