Brian Mullan

Danilo Gargiulo

David Palmer

Dennis Geiger

Jon Tower

Andrew Charles

Christopher O'Cull

Jeffrey Bernstein

Rahul Krotthapalli

Brian Bittner

Brian Harbour

Hyun Jin Cho

Jake Bartlett

James Salera

James Sanderson

Jim Salera

Lauren Silberman

Logan Reich

Sara Senatore

Alexander Slagle

Eric Gonzalez

Gerald Lubinski

Gregory Francfort

Jared Hludzinski

John Ivankoe

Margaret Binstock

Margaret-May Binshtok

Peter Saleh

- **Wendy's Company** launched **"Project Fresh"** on **October 9, 2025**, a comprehensive strategic plan designed to revitalize the brand, reignite growth, accelerate profitability, and enhance shareholder value, stemming from dissatisfaction with the company's current valuation.  **[30697_0001193125-25-235143_d76720dex991.htm:0]** 
- The strategic plan is built upon four core pillars: **brand revitalization, system optimization, operational excellence, and reallocation of capital and resources**.  **[30697_0001193125-25-235143_d76720dex991.htm:0]** 
- Key actions include strengthening brand positioning, prioritizing **Average Unit Volume (AUV) growth in the U.S.**, and optimizing capital expenditures, which involves a **reduction of approximately $20 million** in the Build to Suit program for **2025**.  **[30697_0001193125-25-235143_d76720dex991.htm:1]** 
- The Board is actively conducting a **CEO selection process**, aiming for completion by the end of **2025**, with **Ken Cook** currently serving as **Interim Chief Executive Officer and Chief Financial Officer**.  **[30697_0001193125-25-235143_d76720dex991.htm:0]** **[30697_0001193125-25-235143_d76720dex991.htm:1]**

Wendy's Company Launches "Project Fresh" Strategic Plan

- The Wendy's Company launched **Project Fresh**, a comprehensive strategic plan designed to revitalize the brand, reignite growth, accelerate profitability, and enhance shareholder value, driven by the Board's dissatisfaction with the company's current valuation.  **[30697_20251009CL93749:0]** 
- The plan is built on four core pillars: **brand revitalization**, **system optimization**, **operational excellence**, and **reallocation of capital** to drive profitable growth.  **[30697_20251009CL93749:0]** 
- Key actions include a reduction of capital allocated to the Build to Suit program by approximately **$20 million in 2025**, with a larger anticipated reduction in 2026, to invest more in areas like technology and marketing, while maintaining commitment to dividends and returning capital to shareholders.  **[30697_20251009CL93749:1]** 
- The Board is actively conducting a **CEO selection process** with a global executive search firm, targeting completion by the end of the year, with Ken Cook currently serving as Interim Chief Executive Officer and Chief Financial Officer.  **[30697_20251009CL93749:1]** **[30697_20251009CL93749:0]**

Wendy's Launches "Project Fresh" Strategic Plan

Wendy's (WEN)