February 24, 2021

Chiefs of Wendy’s and Costco to Step Down

Emil J. Brolick will take over as president and chief executive on Sept. 12, Wendy’s said in a statement on Thursday. Mr. Brolick, 63, currently is chief operating officer of Yum Brands, which owns the Taco Bell, KFC and Pizza Hut chains.

Separately, Costco Wholesale Corporation, the warehouse club chain, appointed Craig Jelinek to succeed Jim Sinegal, who will step down as chief executive on Jan. 1 after more than 20 years.

Mr. Smith, who sold the Arby’s sandwich brand this year and moved Wendy’s headquarters to Dublin, Ohio, from Atlanta has sought to draw customers from McDonald’s by remaking its breakfast menu. Mr. Smith has said he planned to use the proceeds from the Arby’s sale to invest in new products, ads and store remodels.

Before joining Yum in 2000, Mr. Brolick had worked at Wendy’s for 12 years. Mr. Smith has been the chief of Wendy’s since September 2008 and will serve as a senior adviser through the end of the year.

Trian Fund Management, run by the investor Nelson Peltz, was the largest Wendy’s shareholder as of July 1. Mr. Peltz, who united Wendy’s and Arby’s in a $2.56 billion all-stock deal, also is the restaurant’s biggest individual investor. Carrie Bloom, a spokeswoman for Trian, declined to comment on the management changes.

Mr. Jelinek, the chief operating officer at Costco, has been with the company for almost 28 years. He started in 1984 as a manager of one of the company’s warehouses, and served in several management positions, including head of merchandising.

Mr. Sinegal, 75, founded Costco Wholesale in 1983 with Jeffrey Brotman and took over as chief five years later, after a merger with a competitor, Price Club.

“Costco has a very strong culture and a deep bench of management talent,” Mr. Sinegal said in a statement.

Article source: http://feeds.nytimes.com/click.phdo?i=adbbc2c0b778bbf100bf5be9e4baa7da

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