STRATEGIC PARTNERS
August 31, 2011
Roland Smith, president and CEO of The Wendy's Company, announced his retirement today.
Smith will continue to serve as senior advisor to the company throughout the end of the year, and will also remain on the board of directors.
Effective Sept. 12, Emil J. Brolick will assume the president and CEO roles. Brolick will relocate to Dublin, Ohio, where Wendy's is headquartered, and will also join the company's board of directors.
Brolick has served as chief operating officer of Yum! Brands Inc., and most recently was president of Yum!'s A&W All American Foods and Long John Silver's brands.
Previously, Brolick was president of U.S. Brand Building for Yum! and prior to that he was Taco Bell's president and chief concept officer. Under his leadership, Taco Bell delivered five consecutive years of same-store sales and profit growth to become the nation's leading Mexican-style QSR.
Brolick is also familiar with the Wendy's brand, having served with the company in the late 1980s as senior vice president of new product marketing, research and strategic planning. During his tenure, Brolick worked closely with Wendy's Founder Dave Thomas, and Nelson Peltz, chairman of The Wendy's Company, credits Brolick as one of the primary architects of the chain's strategy during that era, which included 16 consecutive years of same-store sales growth.
"We are thrilled to welcome Emil back to the Wendy's family," Peltz said. "Emil is a proven brand builder in the restaurant industry who recently led the turnaround of Taco Bell and drove strong same-store sales growth. Emil is the perfect CEO to lead Wendy's today — he is joining Wendy's at a time when the company is performing well with strong sales momentum."
The Wendy's Company recently branched off from the Wendy's/Arby's Group after Arby's was sold to Roark Capital. Since, Wendy's has accelerated menu overhaul, restaurant remodel and international expansion strategies.
"Wendy's is one of the most attractive growth stories in the quick-service restaurant industry, and I am excited to be rejoining the company at such an important point. I look forward to working with the talented team at Wendy's as we continue to execute on the many compelling growth opportunities available to Wendy's brand," Brolick said.
Brolick, 63, holds a bachelor's degree and master's degree in economics from the University of Detroit, and is chairman of the board of governors of Boys & Girls Clubs of America.
Smith, 57, has been president and CEO of The Wendy's Company since July 2011 and Wendy's/Arby's Group since September 2008. Smith previously served as CEO of Arby's, AMF and American Golf, and held executive leadership positions at several other companies.
Peltz credits Smith for positioning Wendy's for growth and reorganizing the company following the WAG merger in 2008.
"Roland and his team established Wendy's 'Real' and 'Fresh' brand positioning and rebuilt the product pipeline, which is phenomenal and has just begun to be unveiled," Peltz said.
Smith said it was a difficult decision to retire, but added that he and his wife will remain close to their family in Georgia while Wendy's relocates to Central Ohio.
"I am proud of where Wendy's is today and believe the company is well positioned to successfully execute on its key strategies. As a board member, I look forward to providing support to Emil as Wendy's builds on a strong foundation and continues to grow sales and profits," Smith said.
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