Overview

• Wendy’s CFO Ken Cook will take over as interim CEO on July 18 as the chain begins its search for a permanent chief executive.
• Tanner is departing Wendy’s after a 17-month tenure marked by menu innovations to succeed Michele Buck as Hershey’s president and CEO.
• Buck will retire as CEO and remain with Hershey in a senior advisor capacity to guide Tanner’s transition.
• Wendy’s shares have fallen nearly 31% this year as sales remain muted, and Hershey is managing higher cocoa and tariff-related costs.
• Mary Kay Haben, chair of Hershey’s CEO search committee, praised Tanner’s consumer-packaged goods expertise and operational scale.