The Wendy's Company Appoints Arthur Winkleblack Chairman of the Board
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DUBLIN, Ohio, Sept. 6, 2024 ~ The Wendy's Company has announced the appointment of Arthur B. Winkleblack as the new non-executive Chairman of the Board. This decision comes after the retirement of Nelson Peltz, who has been named Chairman Emeritus in recognition of his long-standing leadership and contributions to the company.

Winkleblack has been a member of Wendy's Board since 2016 and has served as Lead Independent Director since October 2023. He also holds the position of Chairman for the Nominating and Corporate Governance Committee and is a member of the Audit Committee, where he previously served as Chairman. In addition to his new role as Chairman, Winkleblack has also been appointed as Chairman of the Executive Committee.

Peltz, who has been non-executive Chairman since 2007, will be stepping down from his position to focus on his other board commitments and future activities with Trian Fund Management, L.P., a multi-billion asset firm that owns approximately 15.3% of Wendy's outstanding shares.

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Kirk Tanner, CEO of Wendy's, expressed gratitude for Peltz's contributions to the company over the years. He praised Peltz for his effective leadership and strategic vision that have greatly benefited Wendy's. Tanner also stated that he looks forward to continuing to work with Peltz as a significant shareholder.

Tanner also expressed excitement about working with Winkleblack in his new role as Chairman and is confident that together with the entire Board and management team, they will continue to drive progress towards Wendy's strategic growth priorities. He highlighted the strength of their Board structure, which includes a majority independent Board, fully independent key committees, substantial shareholder involvement, and a diverse range of skills and experience from various industries.

In response to his retirement from Wendy's Board, Peltz shared that it had been a pleasure working with them for almost two decades and expressed pride in the company's growth and transformation. He also commended Tanner for seamlessly transitioning into the CEO role and expressed confidence in the Board's stewardship, particularly with Winkleblack's experience and the support of his partners Peter May and Matt Peltz, who hold positions as Senior Vice Chairman and Vice Chairman, respectively.

With this new leadership structure in place, Wendy's is poised for further growth and success under the guidance of its experienced Board and management team.
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