Wendy’s Company
#3336
Rank
$3.39B
Marketcap
United States
Country
Mr. Todd Allan Penegor (Pres, CEO & Director)
Mr. Gunther Plosch (Chief Financial Officer)
Mr. Kevin Vasconi (Chief Information Officer)
Summary
History
Wendy's "old-fashioned" hamburgers were inspired by Dave Thomas's trips to Kewpee Hamburgers in his home town of Kalamazoo, Michigan. Kewpee sold square hamburgers and thick malt shakes. Thomas founded Wendy's in Columbus, Ohio, in 1969 and featured square patties with corners that stuck out from the sides of the circular bun, giving the impression of an abundance of good quality meat. The Columbus location later added a Tim Hortons and was closed on March 2, 2007, after 38 years of business, due to declining sales. Basketball star John Havlicek, an Ohio State University alumnus, was one of Thomas's earliest investors, which eventually gave Havlicek enough of an income stream to retire comfortably.Thomas named the restaurant after his fourth child Melinda Lou "Wendy" Thomas. Photographs of her were on display at the original Wendy's restaurant until it closed. In his autobiography, Thomas wrote that he regretted naming the restaurant after his daughter because once it became a fast food empire she "lost some of her privacy" with many people assuming she was the official company spokesperson. In August 1972, the first Wendy's franchisee, L.S. Hartzog, signed an agreement for Indianapolis, Indiana. Also, in 1972, Wendy's aired its first TV commercials that were only broadcast locally in Ohio. This series of commercials was titled "C'mon to Wendy's" because they stressed Wendy's superiority through the "Quality Is Our Recipe" slogan and featured an animated Wendy similar to the one from the corporate logo along with dancing hamburgers.
The first Canadian restaurant opened in Hamilton, Ontario, in 1976. In December 1976, Wendy's opened its 500th restaurant, located in Toronto. In March 1978, Wendy's opened its 1000th restaurant in Springfield, Tennessee.Wendy's founded the fried chicken chain Sisters Chicken & Biscuits in 1978 and sold it to its largest franchiser in 1987. In the 1970s Wendy's opened in Australia but by 1986 almost all of their Australian stores had been purchased by Hungry Jack's, the Australian franchisee of Burger King, but on May 13, 2021, Wendy's opened a pop-up store in The Rocks in Sydney's city centre for a day. In 1979, the first European Wendy's opened in Munich, West Germany. The same year, Wendy's became the first fast-food chain to introduce the salad bar. Wendy's entered the Asian market by opening its first restaurants in Japan in 1980, in Hong Kong in 1982, and in the Philippines and Singapore in 1983. In 1984, Wendy's opened its first restaurant in South Korea.
The chain opened locations in the former West Germany in the 1980s in cities like Mannheim, Heidelberg and Munich and other areas where the US maintained Army bases. When the troops were removed after German reunification in the early 1990s, these Wendy's stores were closed.
In response to a 1986 slowdown in the chain's performance, Wendy's restructured its cleanliness standards, menu, and other operational details to ensure that stores met the goals and standards of the parent company so that its franchises were competitive in the market. Wendy's closed all its outlets in Hong Kong in 1986 and in Singapore in the following year.
From 1988 to 1990, Wendy's expanded operations globally to Mexico, New Zealand, Indonesia, Greece, Turkey, Guatemala, as well as the U.S. Naval Base in Naples, Italy. In 1988, Wendy's expanded its bar to a full-blown buffet called the Superbar for $2.99. The Superbar had various stations: "Mexican Fiesta", the Italian "Pasta Pasta," and the "Garden Spot", salad and fruit. The Superbar was popular but difficult to maintain and thus was discontinued in 1998.In 1989, Wendy's opened its first restaurant in Greece at Syntagma Square being the first foreign fast-food chain in the country. After opening 12 restaurants in 3 cities, the company abandoned the Greek market in 2002 due to differences with the local franchisee, although it was a very successful and profitable business at the time. In 1996, the chain expanded in Argentina by opening 18 local restaurants. However, all of them closed only four years later due to the economic crisis in the country. In 1998, Wendy's pulled out of South Korea by closing all its 15 restaurants and in 2000 exited from the UK, Argentina, and Hong Kong.Garden Sensations salads were added in 2002. Wendy's signed a franchise agreement to re-enter the Singapore market in 2009, though that agreement was short-lived; in April 2015, Wendy's once again ceased operation in the country and closed all the restaurants.In 2011, Wendy's returned to Japan and Argentina announcing a development agreement for 50 restaurants in the country. It also entered the Russian market for the first time with plans to open 180 restaurants over a 10-year period. However, only three years later, in 2014, Wendy's closed all its restaurants in the country.In 2013, Wendy's opened the first restaurant in Georgia and made a deal to open 25 restaurants in Georgia and the Republic of Azerbaijan. In September 2014, several pork-based products were introduced to be on sale until early November. These included a standard pulled pork sandwich with slaw and three sauce options, a BBQ Pulled Pork Cheeseburger and cheese fries with pulled pork, cheddar cheese sauce, onions, and barbecue sauce. In May 2015, Wendy's announced they would be expanding into India, with its first outlet located in Gurgaon.In September 2016, JAE Restaurant Group acquired 97 Wendy's restaurants throughout the South Florida region. JAE Restaurant Group is one of the country's largest franchisee owners. The Group owns 177 Wendy's Restaurants. Wendy's Co. has been looking to remodel existing stores and upgrade the curb appeal of its locations. They have been doing this by adding fireplaces, more seating options, adding WiFi and flat-screen TVs, and digital menus.In 2017, the company sold 540 of its restaurants. The divesture was the second step in a three-step action plan to improve the brand. Other steps include new openings and remodeling of existing stores. In 2015, the brand opened 80 new restaurants and remodeled 450 of its existing locations. The brand's goal is to remodel at least 60% of its North American locations by year-end 2020.In December 2017, Wendy's announced a partnership with DoorDash for food delivery in the U.S.In October 2019, Wendy's announced that it was returning to the UK market, which it had served from 1980 to 1986, then again from 1992 to 2000. The first of 20 planned restaurants was due to open in 2020 in Stoke-on-Trent, but it was later announced that the first location would be Reading, Berkshire. The Reading restaurant opened on June 2, 2021.In January 2021, Wendy's announced that after the bankruptcy of franchisee NPC Quality Burgers Inc., half of NPC's outlets would be bought by Flynn Restaurant.
Wendy's by country and continent
The Americas
Asia
Europe
Oceania
Former locations
Mission
Vision
Key Team
Ms. Abigail E. Pringle (Pres of International & Chief Devel. Officer)
Mr. Kurt A. Kane (Pres of U.S. & Chief Commercial Officer)
Ms. Leigh A. Burnside (Sr. VP of Fin. & Chief Accounting Officer)
Mr. Matt Spessard (Sr. VP & Global Chief Technology Officer)
Gregory J. Lemenchick (Sr. Director of Investor Relations and Corp. FP&A)
Mr. Eric J. Wunsch Esq. (Chief Legal Officer & Sec.)
Mr. Michael G. Berner (VP of Corp. & Securities Counsel, Chief Compliance Officer and Assistant Sec.)
Recognition and Awards
References
Mr. Todd Allan Penegor (Pres, CEO & Director)
Mr. Gunther Plosch (Chief Financial Officer)
Mr. Kevin Vasconi (Chief Information Officer)