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Wendy's
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Latest analysis
Updated Aug 17, 2026
Wendy's President U.S. departs; company eliminates role and creates Chief Operations Officer position.
Pete Suerken, President of U.S. operations, resigned August 14, 2026 to become CEO of the Wendy's independent purchasing cooperative (QSCC). Wendy's is eliminating the President, U.S. role and creating a new Chief Operations Officer position reporting to the CEO as part of broader restructuring efforts already disclosed in the Q2 2026 earnings call. The departure occurs amid organizational restructuring that signals a shift in operational governance at a critical time for the franchisor.
Tone: neutralRevenue
$2.2B
WEN 10-K · FY 2025
Employees
14,900
Revenue FY2024
$2.2B
Founded
1969
Profile
WEN 10-K Item 1 · Feb 23, 2026The Wendy's Company operates, develops, and franchises quick-service hamburger restaurants under the Wendy's brand. As of December 28, 2025, the system comprised 7,397 restaurants across the U.S. and 38 foreign countries and U.S. territories, making Wendy's the second-largest hamburger QSR in the U.S. by traffic and dollar share and third-largest globally. The vast majority of restaurants are franchisee-operated, with the company directly operating 434 units.
Read filing description ↓ Collapse description ↑
Wendy's is primarily engaged in the business of operating, developing and franchising a system of distinctive quick-service restaurants serving high quality food. Wendy's opened its first restaurant in Columbus, Ohio in 1969. Today, Wendy's is the second largest quick-service restaurant company in the hamburger sandwich segment in the United States based on traffic and dollar share, and the third largest globally with 7,397 restaurants in the U.S. and 38 foreign countries and U.S. territories as of December 28, 2025. The revenues from our restaurant business are derived from two principal sources: (1) sales at Company-operated restaurants and (2) franchise-related revenues, including royalties, franchise fees, national advertising funds contributions and rents received from Wendy's franchised restaurants. During 2025, the Company announced Project Fresh, a comprehensive plan to drive profitable growth and long-term value across our U.S. system. The four strategic pillars of Project Fresh include (1) brand revitalization, (2) operational excellence, (3) system optimization and (4) capital allocation. These pillars are designed to drive profitable average unit volume growth and increase traffic in the U.S. by improving marketing effectiveness, menu offerings and the customer experience, and to enhance franchisee economics. Internationally, the Company's strategic priorities also include driving profitable average unit volume growth and sustaining strong net unit growth. The Company is comprised of the following segments: (1) Wendy's U.S., (2) Wendy's International and (3) Global Real Estate & Development.
Primary products
- Hamburger sandwiches
- Chicken sandwiches
- Chicken tenders and nuggets
- Chili
- French fries
- Baked potatoes
Business segments
End markets
Geographies
Named competitors
“Wendy's competitive position is differentiated by a focus on high quality, craveable food, its made-to-order square hamburgers using fresh beef*, its unique and diverse menu, including chicken sandwiches, chicken tenders and nuggets, salads and other signature items like chili, baked potatoes, the Frosty® dessert and the Breakfast Baconator®, its promotional products, its choice of toppings and condiments and the operations, atmosphere and décor of its restaurants.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenues declined from $2.25 billion in 2024 to $2.18 billion in 2025, driven by lower systemwide sales across all revenue lines including company-operated restaurant sales, franchise royalties, and advertising funds revenue.
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