Wendy’s Co. has tapped United Parcel Service executive Ken Cook as its new chief financial officer, as the fast-food chain seeks to boost growth and restaurant profitability.
Cook, who most recently headed financial planning and analysis at UPS, will assume the role on December 2, the Dublin, Ohio-based company said. He succeeds Gunther Plosch, who has served as CFO since 2016 and will depart at year’s end.
The appointment comes as Wendy’s works to expand its global footprint and improve operational performance under President and Chief Executive Kirk Tanner. Cook brings two decades of finance experience, including a stint as CFO of UPS’s US domestic segment, the shipping giant’s largest business unit. He also served as CFO of South Asia and held leadership positions in investor relations and treasury.
“Ken will play a key role across our initiatives to increase revenue and expand margins as we enter the next phase of growth in the US and around the globe,” Tanner said. He credited the outgoing Mr. Plosch with strengthening the company’s financial foundations.
Cook joins Wendy’s as the restaurant chain faces increasing pressure to boost profitability amid rising labor and food costs. The company has been investing in digital initiatives and international expansion to drive growth.
“I am excited for the opportunity to lead the Finance organization of Wendy’s as this iconic brand embarks on an accelerated growth journey,” Cook said in a statement.
Find out more at: https://www.wendys.com/