Wendy’s CEO Departs, Ken Cook Steps Up

Wendy’s has announced that Kirk Tanner, president and CEO, will be leaving the company, effective July 18, to become the president and CEO at The Hershey Co.

Wendy’s board of directors has launched a comprehensive search process to select a permanent CEO. Meanwhile, the board has appointed Ken Cook, CFO of Wendy’s, as interim CEO.

Cook, who remains CFO, played a major role in developing Wendy’s long-term growth strategy, Wendy’s says in the release. Prior to joining the company, Cook spent 20 years at United Parcel Service in roles of increasing responsibility, including having most recently served as head of financial planning and analysis. Prior to that, he served as CFO for the $60 billion U.S. Domestic segment of UPS.

Art Winkleblack, chairman of the board, says, “Our senior leadership team has established a very clear strategic blueprint for growth and is already beginning to execute on this strategy. We are grateful to Ken for accepting the role of interim CEO and have the utmost confidence in him and the senior leadership team to lead the Company and to continue to execute on our growth plan.”

Additionally, Wendy’s announced that Brad Peltz has been elected to serve as a director of the company and will replace Matt Peltz, who has resigned from the board to devote more time to his other commitments. Brad Peltz is a managing director of Yellow Cab Holdings, a Wendy’s franchisee with restaurants in New York, New Jersey and Pennsylvania.