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Is Wendy's thinking outside the bun?
April 21, 2006
Adios Jack Schuessler! The 30-year fast-food veteran announced he was stepping down as Wendy’s CEO this week. CFO Kerrii Anderson is his temporary replacement. Some observers wonder how Schuessler had hung on this long given the Baja Fresh debacle, which cost shareholders millions, and recent weak same-store sales at core brand Wendy’s. But the board nonetheless kept him around.
Until now. Three new board members, with ties to activist shareholder Trian Partners, might have had different ideas and sent Schuessler packing. We will never know.
The focus is now on a permanent replacement. Piper Jaffray analyst Peter Oakes is touting Taco Bell CEO Emil Brolick, Wendy’s former marketing whiz before he joined Yum Brands. Brolick is still remembered fondly at the Dublin, Ohio-based company for his enthusiasm and daring--qualities that could help Wendy’s regain market share.
Posted by David Farkas on April 21, 2006 | Comments (1)