Kirk Tanner Leaves Wendy’s for CEO Role at Hershey; Ken Cook Appointed Interim CEO
Dublin, Ohio – July 8, 2025 – In a significant leadership transition for the fast food industry, The Wendy’s Company (Nasdaq: WEN) announced that President and CEO Kirk Tanner will depart to take the helm as President and CEO of The Hershey Company (NYSE: HSY), effective July 18, 2025. The board of directors at Wendy’s has appointed Chief Financial Officer Ken Cook as Interim CEO while conducting a thorough search for a permanent successor.
Leadership Transition at Wendy’s: Strategic Continuity Amid Change
Kirk Tanner, who joined Wendy’s in early 2024 after a successful stint as CEO of PepsiCo Beverages North America, guided the fast food giant during a pivotal period focused on innovation and global expansion. His move to Hershey signals a return to his roots in the consumer packaged goods (CPG) sector, a space where he previously held executive positions.
Wendy’s Chairman Art Winkleblack praised Tanner’s impact, stating, “Our senior leadership team has established a clear strategic blueprint for growth and is already executing on this strategy. We are grateful to Ken for accepting the interim CEO role and have full confidence in him and our team to continue our momentum.”
Ken Cook: From CFO to Interim CEO
Ken Cook brings over 20 years of financial leadership, including his current role as Chief Financial Officer at Wendy’s. Before joining Wendy’s in 2022, Cook had a distinguished career at United Parcel Service (UPS), where he most recently served as Head of Financial Planning and Analysis and CFO of UPS’s $60 billion U.S. domestic segment. This operational and fiscal expertise positions Cook to shepherd Wendy’s through a period of continued growth and stability.
In a statement, Cook affirmed, “I look forward to executing on the strategic priorities we shared at our Investor Day: providing fresh, famous food, delivering an exceptional customer experience, and accelerating global net unit growth. We have a strong team and the right strategy to create value for our customers, franchisees, employees, and shareholders.”
Wendy’s Business Performance and Strategic Outlook
Wendy’s has experienced robust growth in recent years, with over 7,000 restaurants worldwide and expanding global franchise operations. In Q1 2025, the company reported better-than-expected earnings, with same-store sales rising by 3.2% in North America, fueled by digital ordering, new menu innovations, and international expansion. Wendy’s has outlined plans to open approximately 250 new restaurants globally this year, targeting growth in the U.S., Canada, the UK, and new markets such as India and the Middle East.
The company continues to leverage technology and delivery partnerships to drive sales—digital orders now account for more than 15% of systemwide sales, reflecting Wendy’s digital transformation. The brand’s marketing, focused on its “Fresh, Famous Food,” innovation with menu items like the Strawberry Frosty and expanded breakfast menu, has also supported traffic growth and customer engagement.
Challenges remain for quick service restaurants industry-wide—including inflationary pressures, labor costs, and evolving consumer preferences—but Wendy’s has managed to maintain margin stability. Strategic sourcing and menu pricing, combined with investments in training and automation, have helped Wendy’s navigate these headwinds.
Boardroom News: New Director Appointed, Board Changes
Alongside executive shifts, Wendy’s announced that Bradley G. Peltz, Managing Director of franchisee Yellow Cab Holdings, has joined the board of directors, replacing Matthew H. Peltz, who resigned for personal reasons. Brad Peltz brings tangible restaurant operation experience, given Yellow Cab Holdings’ franchise footprint in New York, New Jersey, and Pennsylvania—a move hailed by Chairman Winkleblack as providing “valuable insights from our franchise community.”
Kirk Tanner’s Next Chapter at Hershey
Tanner’s move to The Hershey Company, one of the world’s largest chocolate and confectionery manufacturers, places him at the forefront of another iconic American brand. His leadership will be crucial as Hershey faces evolving market dynamics, including supply chain challenges, shifting snacking trends, and international expansion. Hershey has recently posted record revenues, topping $12 billion in 2024, and is actively investing in premium products, sustainability, and digital transformation.
Tanner expressed appreciation for his time at Wendy’s, saying, “It has been a privilege to lead Wendy’s, an iconic brand, and I leave with a sense of gratitude for our employees and franchisees who make the Company a truly special place. The brand is of the highest quality in the QSR industry, and I believe there is tremendous growth potential ahead for all Wendy’s stakeholders.”
Upcoming Milestones
The Wendy’s Company will release Q2 2025 financial results on August 8, 2025, which will provide further insight into the company’s performance and ongoing execution of its growth plan during this transition period. Investors and franchisees are expected to closely monitor updates regarding the CEO search and new strategic initiatives under interim leadership.
About Wendy’s
Founded in 1969 and headquartered in Dublin, Ohio, Wendy’s is the world’s third-largest quick service hamburger company. It is renowned for its “fresh, never frozen” beef in North America and signature offerings like the Baconator® and Frosty™. The brand and its franchisees employ hundreds of thousands worldwide and support philanthropic initiatives through the Dave Thomas Foundation for Adoption®, focusing on child adoption advocacy.
Wendy’s continues to stand out in the competitive QSR market through continuous innovation in menu, delivery, technology, and strong franchise relationships, making it well-poised for future growth despite leadership changes.
