The Wendy's Company Announces David Karam is Leaving the Company to Return to his Franchise Business
DUBLIN, Ohio--(BUSINESS WIRE)--The Wendy’s Company (NYSE: WEN) announced today a change in its executive management team. David Karam, President of North America, will be leaving the Company, effective as of the end of 2011. Karam intends to return to his Cedar Enterprises business, which operates 151 Wendy’s® restaurants in six states.
President and Chief Executive Officer Emil Brolick said: “David provided excellent leadership to the organization during a critical time in the Company’s history. He drove significant improvements in Wendy’s financial performance by implementing a disciplined and thorough business review process throughout the system. He also improved store operations and focused the brand on higher quality products such as Wendy’s Natural Cut Fries, Premium Salads and Dave’s Hot ‘N Juicy™ cheeseburgers. On behalf of the Board of Directors and our management team, I thank David for his many contributions and the style with which he led the brand. We wish him all the best as he returns to leading his successful Wendy’s franchise business.”
Karam said: “I am grateful to our leadership team, employees and franchisees for their partnership and commitment to Wendy’s as we turned around the brand’s performance over the past three years. The Wendy’s business is considerably stronger today due to the many strategic initiatives we’ve implemented. I believe the brand is poised to continue growing and producing improved results.”
The Company will not replace the President of North America position, as Brolick will assume direct management responsibility for leading the business.
About The Wendy’s Company
The Wendy’s Company is the third largest quick-service hamburger company in the United States. The Wendy’s system includes more than 6,500 franchise and Company restaurants in the U.S. and 25 other countries and U.S. territories worldwide.
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