8-K filed January 13, 2023, 6:59 PM ET ticker WEN CIK 0000030697

earnings confidence medium sentiment positive materiality 0.80

Wendy's raises dividend 100% to $0.25, approves $500M buyback; CFO US resigns, CAO named

Wendy's Co

2022-FY EPS reported $0.82 revenue$2,095,505,000

Q4/FY2022 prelim results: global same-restaurant sales double-digit two-year stack; margins expanded ~300bps in Q4 vs Q1; 275+ new restaurants opened.
Quarterly dividend increased 100% to $0.25/share; new $500M share repurchase authorization approved by Board.
Leigh Burnside, SVP/CAO/CFO US, resigns to become CFO elsewhere; Suzanne Thuerk named Chief Accounting Officer effective Jan 20, 2023.
Kurt Kane, President US and Chief Commercial Officer, leaves as role eliminated; eligible for severance per prior proxy statement.
Chairman Nelson Peltz expresses confidence in Company's growth plans and capital allocation strategy.

item 2.02 item 9.01 item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Leigh A. Burnside

Senior Vice President, Chief Accounting Officer and Chief Financial Officer U.S.

WEN · Wendy's Co

Effective: 2023-01-20
Successor: Suzanne M. Thuerk
Filed: January 13, 2023, 6:59 PM ET

On January 9, 2023, Leigh A. Burnside, the Company’s Senior Vice President, Chief Accounting Officer and Chief Financial Officer U.S., provided notice to the Company of her intention to resign from the Company to become the chief financial officer at another restaurant company.

Appointed

Suzanne M. Thuerk

Chief Accounting Officer

WEN · Wendy's Co

Effective: 2023-01-20
Filed: January 13, 2023, 6:59 PM ET

Suzanne M. Thuerk, currently Vice President – Accounting, has been appointed as the Company’s Chief Accounting Officer effective January 20, 2023.

Departed

Kurt A. Kane

President, U.S. and Chief Commercial Officer

WEN · Wendy's Co

Filed: January 13, 2023, 6:59 PM ET

the Company determined that the role of President, U.S. and Chief Commercial Officer was being eliminated and, as a result, Kurt A. Kane will depart the organization.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Wendy's Co reported preliminary financial results for fourth quarter and fiscal year ended January 1, 2023.

Period: fourth quarter and fiscal year ended January 1, 2023
Result: preliminary results

Exact text from the filing

On January 13, 2023, The Wendy’s Company (the “Company”) issued a press release reporting its preliminary, unaudited results for the fourth quarter and full year of 2022 and providing an update on its capital allocation plans and other information.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Leigh A. Burnside resigned as Senior Vice President, Chief Accounting Officer and Chief Financial Officer U.S. at Wendy's Co.

Action: resigned
Role: Senior Vice President, Chief Accounting Officer and Chief Financial Officer U.S.

Exact text from the filing

On January 9, 2023, Leigh A. Burnside, the Company’s Senior Vice President, Chief Accounting Officer and Chief Financial Officer U.S., provided notice to the Company of her intention to resign from the Company to become the chief financial officer at another restaurant company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Suzanne M. Thuerk was appointed as Chief Accounting Officer at Wendy's Co.

Action: appointed
Role: Chief Accounting Officer

Exact text from the filing

Suzanne M. Thuerk, currently Vice President – Accounting, has been appointed as the Company’s Chief Accounting Officer effective January 20, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.9

Kurt A. Kane departed as President, U.S. and Chief Commercial Officer at Wendy's Co.

Action: depart
Role: President, U.S. and Chief Commercial Officer

Exact text from the filing

the Company determined that the role of President, U.S. and Chief Commercial Officer was being eliminated and, as a result, Kurt A. Kane will depart the organization.

View on SEC.gov

51 earnings releases filed in the last 30 days. Browse all earnings releases →

Wendy's Co filing history →

Source: SEC EDGAR

accession 0001193125-23-007602

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