10:00 AM EDT, 09/09/2024 (MT Newswires) -- Wendy's (WEN) said Friday that its board has named Arthur Winkleblack as non-executive chairman of the board.

Winkleblack, who was also appointed as chairman of the executive committee, succeeds Nelson Peltz, who was named chairman emeritus, according to the company.

Winkleblack had been the lead independent director at Wendy's since October 2023 and has been a member of the board since 2016. He also serves as chairman of the nominating and corporate governance committee and as a member of the audit committee, Wendy's said.

Shares of Wendy's were down 1.6% in recent trading.

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