Wendy's Appoints PepsiCo Veteran Kirk Tanner as New CEO

Tanner to take over from Todd Penegor amid potential boardroom challenge from Blackwells Capital.

Kirk Tanner, a long-serving PepsiCo executive, has been appointed as the new CEO of Wendy's, effective from February 5.
Tanner, who led the North American beverages division at Pepsi, is succeeding Todd Penegor, who has been with Wendy's for over a decade and served as CEO since 2016.
Nelson Peltz, chairman of the Wendy's board and activist investor, praised Tanner's experience and believes he is the ideal candidate to lead Wendy's into its next phase of growth and expansion.
Penegor's tenure saw Wendy's launch a successful breakfast menu nationwide, but also faced challenges such as a decline in spending by low-income consumers and a large franchisee declaring bankruptcy.
Activist fund Blackwells Capital is reportedly planning to nominate several directors to Wendy's board, potentially challenging Peltz's influence.