December 14, 2005 |
Billionaire Nelson Peltz bought a 5.5% stake in Wendy's International Inc. and urged the company to cut costs and sell assets, saying a management plan to boost the stock price doesn't go far enough. Wendy's should cut $200 million in costs and sell its Baja Fresh, Cafi Express and Pasta Pomodoro brands, Peltz said in a regulatory filing.
September 20, 2005
* Wendy's International Inc.'s Tom Mueller, who served as president and chief operating officer since 2000, resigned after the hamburger chain posted its smallest quarterly sales gain in six years in July. Chief Executive Jack Schuessler will take over for Mueller on an interim basis. * Liberty Media Corp. canceled an agreement to sell as many as 19 million shares it holds in Rupert Murdoch's News Corp.
July 30, 2005 |
Wendy's International Inc., under pressure from shareholders to boost its stock price, plans to offer a stake in its Tim Hortons doughnut chain to the public and close or sell about 450 hamburger restaurants. The company's shares surged 14%, their biggest gain in almost 18 years. Wendy's will sell as much as 18% of Tim Hortons in an initial offering that could raise $900 million, Chief Executive Jack Schuessler said in an interview. Wendy's, the No.
July 8, 2005 |
Wendy's International Inc. said Thursday that quarterly sales at restaurants fell 4%, hurt mainly by a false claim of a finger being found in a bowl of chili. It marked Wendy's third consecutive quarterly decline. The company said half the sales decline for its second quarter ended July 3 was due to the claim. Authorities have charged a Las Vegas resident with making up the story in March in an attempt to extort money from the hamburger chain, the nation's third-largest.
December 20, 1999 |
Gordon Teter, chairman and chief executive of No. 3 U.S. hamburger chain Wendy's International Inc., died Sunday at his home in a Columbus, Ohio, suburb. He was 56. Dublin, Ohio-based Wendy's said Teter died of natural causes, though the exact cause will be determined by a medical examiner. He lived in Powell. A committee has been formed to search for a successor, and founder Dave Thomas, who has been senior chairman, will serve as chairman in the interim.
April 12, 2005 |
Wendy's International Inc. named a new chief executive Monday for its Baja Fresh Mexican Grill chain, which has been trying to boost its lackluster sales. Brion Grube, a 15-year-veteran of Wendy's, replaces Bill Moreton, a food industry veteran who was brought in just a year ago to run the Thousand Oaks-based chain of nearly 300 fast-casual eateries. Wendy's said Moreton was leaving to spend more time with his family and so he could move to his hometown of Chicago.