Wendy's International Inc. said it would consider selling its Baja Fresh Mexican Grill chain and speed up the spinoff of its Tim Hortons coffee-and-doughnut brand to counter slumping sales.
The nation's No. 3 hamburger chain also said it plans to expand its board from 15 members, adding three people nominated by an investment firm seeking to boost shareholder returns.
In 2005, Baja Fresh comps declined 3.9 percent, and three units closed. It now has 302. Wendy's said it will complete a public offering of its Tim Hortons coffee-and-doughnut chain and separate its remaining shares by year's end.
To help improve its image, Baja Fresh recently hired MacKenzie Agency Public Relations. According to a news release, the agency's first initiative will support Baja Fresh's newest spokesperson, soccer great and 2004 Olympic gold medalist Mia Hamm, an outspoken proponent of healthy eating and family fitness.
