December 17, 2015 / 9:44 PM / in 2 years

Wendy's names CFO Penegor president, starting CEO succession plan

(Reuters) - U.S. burger chain operator Wendy’s Co (WEN.O) said Chief Financial Officer Todd Penegor would take on the additional role of president, starting the process for him to replace Emil Brolick as chief executive in May.

A Wendy's Co restaurant is pictured in Monrovia, California November 4, 2015. Burger chain Wendy's Co reported better-than-expected quarterly same-restaurant sales, pulling in customers in North America with an expanded menu and refurbished restaurants. REUTERS/Mario Anzuoni

Wendy’s said Penegor, 50, would become president as of Jan. 4, while Brolick would continue as CEO until Penegor’s had transitioned his duties as CFO.

The company had said in October that President and CEO Brolick would retire in May and had named Penegor as his successor.

Reporting by Subrat Patnaik in Bengaluru; Editing by Savio D'Souza

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