Triace Puts in Wendy's Exec's

This is an article posted in the Wall Street Journal on Wendy's.

Triarc Names Wendy's Executives
By JANET ADAMY
July 28, 2008; Page B9
Wall Street Journal
http://online.wsj.com/article/SB121700636285985191.html?mod=dist_smartbrief

Triarc Cos. named three executives to run the Wendy's hamburger chain in its first major changes since agreeing to buy the company.

Triarc named J. David Karam as president of Wendy's, Stephen Farrar as the chain's chief operating officer and Ken Calwell as chief marketing officer. Mr. Karam had been part of a team that bid against Triarc in the sale of Wendy's and has long been considered a potential candidate for a top job at the company.

The changes split up the job currently held by Kerrii Anderson, who has been Wendy's president and chief executive since late 2006. Roland Smith, Triarc's chief executive, will also be CEO of Wendy's. Mr. Farrar will succeed Dave Near, who will go back to being a Wendy's franchisee. Mr. Calwell will take over for Paul Kershisnik, who had filled the marketing position on an interim basis.

The appointments take effect when the sale closes, which the company expects will happen later this year.

The new appointments could help assuage employees' and franchisees' concerns that Triarc, parent of the Arby's chain, would load management's ranks with its own people. Mr. Karam is a longtime restaurant owner with 135 Wendy's outlets who knows the family of Wendy's late founder, Dave Thomas. Mr. Farrar has worked at Wendy's for 26 years and helped create programs such as the chain's Super Value Menu. Mr. Calwell, previously an executive at Domino's Pizza Inc., is a former Wendy's vice president.

In an interview, Triarc CEO Mr. Smith said he selected the team in part by asking franchisees "Who would you put in your foxhole?"

Mr. Smith said he first met with Mr. Karam after Triarc won its bid for Wendy's this spring, adding that there are no longer tensions as a result of having bid against each other to buy the company. "If there was any friction, that was done in the first 10 seconds," Mr. Smith said.

Over the past several weeks, Mr. Smith said he has spent six days working behind the counter at various Wendy's locations, during which he made breakfast biscuits. He also hosted some Wendy's franchisees for dinner at his Atlanta home.

Write to Janet Adamy at janet.adamy@wsj.com