Wendy's Names Arthur Winkleblack as Non-Executive Chairman of the Board

The Wendy’s Company (Nasdaq: WEN) has appointed Arthur B. Winkleblack as its new non-executive Chairman of the Board, succeeding Nelson Peltz, who will now serve as Chairman Emeritus in recognition of his leadership and significant contributions to the company over the years. Winkleblack, a Board member since 2016, has played an integral role in the company’s governance and strategy, serving as Lead Independent Director since October 2023.

In addition to his new role, Winkleblack chairs the Nominating and Corporate Governance Committee and serves as a member of the Audit Committee, where he has previously held the position of Chairman. He has also been appointed Chairman of the Executive Committee. 

Peltz, who has been the non-executive Chairman since 2007, is stepping down from his position to focus on other board commitments and future activities at Trian Fund Management. Commenting on his departure, Kirk Tanner, CEO of Wendy’s, expressed gratitude for Peltz’s many contributions. "Nelson has been an effective and collaborative leader, and Wendy's has greatly benefited from his strategic vision and operational skills. I wish him the best with his other commitments and look forward to continuing to work with him as a significant Wendy's shareholder," Tanner said.

Tanner added, "I am excited to work with Art in his new role and am confident that the entire Board and management team will continue to drive progress against the Company's strategic growth priorities." He emphasized the Board’s strong structure, which includes a majority of independent directors and a mix of diverse skills and experiences that align with the company's goals.

Nelson Peltz, CEO and a founding partner of Trian Fund Management, which owns 15.3 percent of Wendy’s outstanding shares, reflected on his tenure: "It’s been a pleasure working with the Wendy's Board for nearly two decades, and I’m proud of the company’s growth and transformation." Peltz expressed confidence in the company’s future leadership under Winkleblack and his partners Peter May and Matt Peltz, who will continue in their roles as Senior Vice Chairman and Vice Chairman, respectively.

With this leadership transition, Wendy’s remains focused on its strategic growth initiatives, backed by a well-structured and experienced Board.