Arby's names Roland Smith as new CEO

NEW YORK — Triarc Cos. said July 5 Roland Smith will take over as the new chief executive of Arby's Restaurant Group Inc.

In May, Triarc chairman and chief executive Nelson Peltz announced his retirement. President and chief operating officer Peter May also resigned.

Smith, 52, has served as Arby's CEO since April 2006 and recently became a Triarc director.

Peltz will receive $50.2 million and May $25.1 million after leaving their posts. Peltz and May will continue to serve on Triarc's board as non-executive chairman and vice chairman, respectively.

Peltz, who also is a shareholder of Wendy's International Inc., recently said Triarc could be a potential buyer for Wendy's. In April, Wendy's announced that it was considering strategic options to enhance shareholder value, including a possible sale.