Wendy's launches Project Fresh strategic plan; cuts Build to Suit capital by ~$20M in 2025

Wendy's Co

Reduces 2025 Build to Suit capital by ~$20M, with a larger anticipated reduction in 2026, to reallocate resources to drive AUV growth.
Hires leading consultancy Creed UnCo, led by former Taco Bell CEO Greg Creed, to transform marketing effectiveness.
CEO selection process ongoing; Board targets completion by end of 2025, working with global executive search firm.
Company reaffirms commitment to dividend, supported by strong free cash flow generation.
Interim CEO Ken Cook also serves as CFO; strategic plan focuses on brand revitalization, system optimization, operational excellence, and capital allocation.

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