The company said the Board appointed Kirk Tanner as President and Chief Executive Officer on July 6, 2025, effective from August 18, 2025 (the Effective Date), and that he will also join the Board as a member on the same day.

1. 01

   The company said the Board appointed Kirk Tanner as President and Chief Executive Officer on July 6, 2025, effective from August 18, 2025 (the Effective Date), and that he will also join the Board as a member on the same day.

2. 02

   The company said that Tanner, age 57, has served as President and CEO of The Wendy’s Company since February 2024, and that he spent more than 30 years at PepsiCo, where he was CEO of PepsiCo Beverages North America from January 2019 to February 2024.

3. 03

   The company said the employment agreement includes an annual base salary of $1,250,000, a cash incentive targeted at 180% of base salary, sign-on RSU awards valued at $7,000,000 and PSU awards valued at $4,000,000. It said Tanner will also be eligible for an annual equity-based award with a target value of $9,000,000 during his employment.

4. 04

   The company said Michele G. Buck’s retirement as President and CEO and her resignation from the Board will both take effect on the Effective Date. Buck will serve as a Special Advisor until June 30, 2026, and from July 1, 2026 through December 31 she will provide consulting services as an independent contractor.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.