Farrar to strengthen the Company's commitment to improve restaurant operations
April 04, 2008 // Franchising.com // DUBLIN, Ohio – Wendy's International, Inc. (NYSE:WEN) today announced that it has named Steve Farrar as Chief of North America Operations, a new position in the Company, effective April 14.
Farrar will be responsible for improving restaurant operations at company and franchise restaurants in all three U.S. regions and Canada, while growing sales and driving profit margins. Farrar will report directly to Chief Operations Officer Dave Near.
Farrar, 57, was senior vice president of Wendy's® western region from 1992 to 2006, when he accepted the Company's early retirement package as part of the Next Chapter realignment.
"We are thrilled that Steve is returning to the Wendy's family," said Chief Executive Officer and President Kerrii Anderson. "Steve is highly regarded in the Wendy's system, having established positive, long-term relationships with many of our franchisees, operators and company employees. In his capacity of leading North America operations, Steve will play an important role in contributing to Wendy's strategic plan and strengthening Wendy's commitment to operational excellence."
"Steve is a seasoned operator and an experienced leader with countless achievements throughout his 26 year career with Wendy's," said Dave Near. "He worked closely with former greats in the Wendy's system, including our Founder Dave Thomas, and former Chairman Jim Near and former CEO Gordon Teter. During his Wendy's tenure, Steve focused on delivering superior profit margins and EBITDA growth in his region, and he will play an important role in driving future improvement for all restaurants in the system on top of a strong 2007 for Wendy's."
Among his achievements, Farrar led the Wendy's system in measuring and driving operational performance, created a human resources planning and development system and developed numerous planning and control systems to reduce costs.
He was instrumental in establishing Wendy's Service Excellence™ program, which led to Wendy's ranking as the fastest drive-thru in the industry by QSR Magazine. He also helped pioneer Wendy's Super Value Menu®, the late night program and three-tiered combos.
Before joining Wendy's, Steve was president of Restaurant Profitability Analysts, a consulting firm to full-service restaurants. He also held positions with Pelican's Restaurants (as president), Ten Tex Food (a McDonald's franchisee and full-service restaurant company) and Steak and Ale Restaurants. Steve began his career in the restaurant business as a McDonald's general manager. He attended the University of Texas, Arlington.
Wendy's International, Inc. is one of the world's most successful restaurant operating and franchising companies, with more than 6,600 Wendy's restaurants in the United States, Canada and international markets. More information about the company is available at www.wendys.com.
Certain information in this news release, particularly information regarding future development of new restaurants and the plans, expectations and objectives of Wendy's management, is forward looking. Factors set forth in Wendy's Safe Harbor under the Private Securities Litigation Reform Act of 1995, in addition to other possible factors not listed, could affect Wendy's actual results and cause such results to differ materially from those expressed in forward-looking statements. Please review Wendy's Safe Harbor statement at http://www.wendys-invest.com/safeharbor.