Double Stack Cheeseburger Added to Value Menu; Million Coupon Giveaway Planned Labor Day in Selected Florida Markets As Salute to America?s Workforce
DUBLIN, OHIO (August 29, 2008) &endash; Wendy’s is reaching out to cash-strapped consumers with a trio of highquality, signature sandwiches priced at 99 cents.
Wendy’s announced today the national introduction of a 99-cents Double Stack cheeseburger and plans to aggressively promote this menu option, along with the Company’s popular 99-cents Junior Bacon Cheeseburger and 99-cents Crispy Chicken Sandwich.
“The Double Stack is a proven store traffic and sales driver,” said Wendy’s Interim Chief Marketing Officer Paul Kershisnik. “While the sandwich has been offered over the years in a number of U.S. markets, this will be the first time we have rolled it out nationally.”
The Double Stack cheeseburger and the other two value sandwiches will go head-to-head against the double cheeseburger offered by Wendy’s largest competitor.
“By offering three great-tasting sandwiches at a recommended price of 99 cents, we’re giving customers more choices and more value for their money at a time when they?re trying to stretch their dollars further and can use some help,” Kershisnik said.
The Double Stack will feature two junior hamburger patties - made with fresh, never frozen beef - cheese, HeinzÆKetchup, onion, mustard and pickles. The sandwich will replace the Stack Attack on Wendy’s Value Menu.
ATLANTA (July 25, 2008) &endash; Triarc Companies, Inc. (NYSE: TRY, TRY.B, “Triarc”), the franchisor of the Arby’s® restaurant system (“Arby's”), announced today that following the closing of the pending merger between Wendy’s International, Inc. (NYSE: WEN, “Wendy’s”) and Triarc, J. David Karam, 50, will assume the position of President of Wendy’s®; Stephen D. Farrar, 57, will assume the position of Chief Operating Officer of Wendy’s; and Ken C. Calwell, 46, will assume the position of Chief Marketing Officer of Wendy’s. The merger of Wendy’s and Triarc is expected to close in the second half of 2008.
In assuming the role of President of Wendy?s after the closing, Mr. Karam will succeed Kerrii B. Anderson, who currently serves as both President and Chief Executive Officer. As announced on April 24, 2008, Roland Smith, Triarc’s Chief Executive Officer, will also assume the position of Chief Executive Officer of Wendy’s. Mr. Farrar will succeed Dave Near, who will resume his role as a leading Wendy’s franchisee. Mr. Calwell will succeed Paul Kershisnik, who was named interim Chief Marketing Officer in February 2008. Mr. Kershisnik will continue in his role as interim CMO through the closing of the merger and then plans to work closely with Calwell in a senior leadership role in marketing.
Mr. Karam currently is a minority shareholder and serves as President of Cedar Enterprises, Inc., which owns and operates 135 Wendy’s Old Fashioned Hamburgers restaurants in Indianapolis, Las Vegas, San Antonio, Hartford and Seattle. Cedar Enterprises is also the parent company of Syrus, Ltd., which provides information processing services designed to increase operating productivity and financial performance for nearly 20% of the Wendy’s franchise-operated restaurants throughout the country. As a franchisee, Mr. Karam was the recipient of the Founders Award in 1990, honoring R. David Thomas, and the Diamond Award for the National Marketer of the Year in 1998. Prior to joining Cedar Enterprises, Inc., he was a Senior Auditor at Touche & Ross (now Deloitte). He holds a BSBA in accounting from The Ohio State University and completed the Owner President Management Program at the Harvard University Graduate School of Business Administration.
In connection with joining Wendy?s as President, Mr. Karam will relinquish management of the dayto- day operations of Cedar Enterprises and its subsidiaries and resign from their respective boards of directors. Mr. Karam will continue as a minority shareholder of Cedar Enterprises and will dispose of his interest in Syrus, Ltd.
Mr. Farrar returned to Wendy’s in April 2008 as Chief of North American Operations in the U.S. and Canada after retiring in 2006. In his current role, he is responsible for improving restaurant operations at company and franchise restaurants in all three U.S. regions and Canada. During his 26-year career with Wendy’s, Mr. Farrar served in a variety of roles where his achievements included helping to establish Wendy’s Service Excellence program, pioneering Wendy?s Super Value Menu®, creating a human resources planning and development system, and developing numerous planning and control systems to reduce costs. He was one of the system’s most respected leaders and seasoned operators with a track record that earned him a Wendy’s Hall of Famer distinction. Before joining Wendy’s, Mr. Farrar held various positions at Restaurant Profitability Analysts, Pelican’s Restaurants, Ten Tex Food, Steak and Ale Restaurants, and McDonald’s. He attended the University of Texas, Arlington.
Mr. Calwell most recently served as Chief Marketing Officer–Executive Vice President, Marketing, Research and Development at Domino’s Pizza, Inc., where he was responsible for the leadership of all national marketing, brand strategy, advertising, new product development, database marketing, media, field marketing, pricing, marketing research, R&D, CRM, and sports and event marketing. Prior to joining Domino’s in 2001, Mr. Calwell served as Vice President, New Product Marketing, Researching, and Planning at Wendy’s. Previously, Mr. Calwell held various marketing positions in the Frito-Lay and Pizza Hut divisions of PepsiCo, Inc. and at The Pillsbury Company. He holds an M.B.A. from Indiana University and a B.B.A. from Washburn University.
Roland Smith stated, “A key element in realizing the great potential of the Wendy’s brand and generating enhanced value for shareholders is to build a premier team that will drive a performancebased culture grounded in Wendy’s heritage of quality and operational excellence. With the appointment of three high-caliber and well respected individuals to key leadership roles, we are taking an important first step toward improving Wendy’s performance and achieving our growth objectives. With extensive backgrounds in the Wendy?s organization and years of operating experience, these executives are uniquely qualified to help lead Wendy’s during the next phase of growth and development. This is certainly a very exciting time to be part of the Wendy’s family.” Smith continued, “Together with Kerrii Anderson, I wish to thank Dave Near for playing an integral part in Wendy’s operational initiatives over his two years as COO, and we look forward to his ongoing contributions as he returns to his previous role as a leading franchisee of Wendy’s restaurants in Austin, Texas. I also want to thank Paul Kershisnik who led Wendy’s marketing initiatives over the last several months and will continue to lead the team through closing of the merger.”
On April 24, 2008, Triarc and Wendy’s signed a definitive merger agreement for an all-stock transaction in which Wendy’s shareholders will receive a fixed ratio of 4.25 shares of Triarc Class A Common Stock for each share of Wendy’s common stock they own. The transaction will bring together Arby’s and Wendy’s, two leading quick service restaurant brands distinguished by traditions of quality food and service. The combined systems will have approximately 10,000 restaurant units and pro forma annual system sales of more than $12 billion, positioning it as the nation?s third largest quick service restaurant company.
After almost 39 years, Wendy’s is shaking up the Frosty.
Wendy’s announced today that it’s introducing a new line of hand-spun Frosty Shakes in three flavors: Vanilla Bean, Chocolate Fudge, and, yes, Strawberry -- a Company first.
The rich and creamy Frosty Shakes, topped with whipped cream and a cherry, are served with a straw. The traditional Frosty is thicker so it has to be eaten with a spoon.
In 1969, when Dave Thomas opened his first Wendy’s in Columbus, Ohio, the Frosty was one of five original items on the menu.
One of the most familiar and enduring items on Wendy’s menu, the Frosty only came in one flavor - Chocolate - until 2006, when Vanilla was added. Since then, the Company has introduced Frosty Floats and Twisted Frostys with candy or cookie toppings mixed in.
“This is another example of how we’re actively expanding our dessert and beverage portfolio by leveraging the power of our proprietary Frosty brand,” said Wendy’s Interim Chief Marketing Officer Paul Kershisnik. “There’s nothing quite like the taste of our Frosty Shakes. They’re a perfect fit for meals and snacking occasions.”
Beginning in early June, national advertising support will emphasize the premium quality of the Frosty shakes, using five kinds of cocoa, real vanilla beans and sauce made from real strawberries.
In addition to shakes, Wendy’s is introducing a Nestle® Toll House® Cookie Dough Twisted Frosty this month.
Wendy’s annually serves more than 350 million Frostys.
Just in time for summer, Wendy’s will offer salad lovers new dressings that they can feel good about.
Wendy’s announced today the phased introduction next month of a new line of premium, Marzetti salad dressings that are all-natural with no preservatives.
In addition, Wendy’s said it has reduced the sodium level in each of its salad dressings by about 10 to 15 percent compared to previous options.
The dressings are exclusively formulated to complement Wendy’s four Garden Sensations entrée salads and two side salads. All of the salads are made fresh throughout the day, with romaine and iceberg lettuce that is chopped and prepared in Wendy’s restaurant kitchens -- unlike the bagged lettuce used by competitors.
Featuring bold, new graphics, individual dressing packets will be branded with the Marzetti name for the first time. Marzetti, a leader in retail salad dressings, has been a Wendy’s supplier for more than 20 years.
To celebrate its partnership with Wendy’s, Marzetti will provide annual financial support to the Dave Thomas Foundation for Adoption.
Created in 1992, the Foundation works to help the 140,000 foster care children in North America who are eligible for adoption.
“Our customers now will be able to choose from a premium line of all-natural, no preservative salad dressings that are not only better for you, they taste great,” said Wendy’s CEO and President Kerrii Anderson. “This is another example of how we’re giving our customers more high-quality options and more ways to meet their individual nutritional needs.”
“We’re proud to partner with an outstanding supplier who supports our signature charity, the Dave Thomas Foundation for Adoption,” added Anderson, who is a trustee of the foundation.
“We’re delighted to not only provide Wendy’s with outstanding salad dressings, but also support the cause that Wendy’s Founder Dave Thomas cared about the most in the process,” said Marzetti President Bruce Rosa. “Dave’s tireless support for foster care adoption may be his greatest legacy.”
The Dave Thomas Foundation for Adoption works to streamline the adoption process and make adoption more affordable for families. It also leads signature national service programs like Wendy’s Wonderful Kids, which is currently funding full-time adoption recruiters in cities throughout the United States and Canada.
Wendy’s all-natural, refrigerated salad dressing line -- one of the most extensive in the quick-service restaurant category -- will now include: Oriental Sesame. Ancho Chipotle Ranch, Italian Vinaigrette, Honey Dijon, Classic Ranch, Supreme Caesar, Light Classic Ranch and Balsamic Vinaigrette.
Some restaurants may also serve Chunky Blue Cheese, Thousand Island, Light Honey Dijon or Fat Free French.
In a move that significantly reduces trans fatty acids (TFAs) on its menu, Wendy’s® is making the switch to non-hydrogenated cooking oil for its French fries and breaded chicken items. The oil has zero grams of trans fat per serving. Wendy’s announced today that its 6,300 U.S. and Canadian restaurants are scheduled to switch to the new blend of corn and soy oil beginning in August.
Wendy’s breaded chicken sandwiches, nuggets and strips will have zero grams of trans fat. Depending on the serving size, trans fats in French fry offerings will range from zero to 0.5 grams. Kids’ Meal nuggets and fries will have zero grams of trans fat.
Beyond these efforts, the Company is working directly with its French fry suppliers to further reduce trans fats that occur as part of the par frying process at their facilities, with a goal of zero grams.
As part of an extensive year-long process, more than 370 Wendy’s restaurants in Florida, North Carolina, West Virginia and Ontario, Canada have been testing the new cooking oil.
“We’ve been diligently working to reduce the trans fat levels in our food without jeopardizing the great taste our customers expect,” said Kerrii Anderson, Wendy’s interim chief executive officer. “Getting to this point has involved hard work by our suppliers along with rigorous consumer and operations testing. This is the right thing to do. We’re proud of our legacy of innovation in the restaurant industry, and these latest steps that enhance the nutritional profile of our food. We?re the first national hamburger chain cooking with non-hydrogenated oil in the U.S.”
New Oil Reduces Saturated Fats
Wendy’s use of the non-hydrogenated oil also means on average a 20 percent reduction in saturated fats in the breaded chicken items and French fries.
The 2005 Dietary Guidelines for Americans recommend that individuals substitute mono and polyunsaturated fats for saturated fats, and consume as little trans fat as possible as part of a healthful diet.
The changes to Wendy’s cooking oil and chicken items will reduce TFAs for Wendy’s breaded chicken and fries by an average of 95 percent.
In a move completed earlier this year, all salad dressings offered in Wendy’s Garden Sensations® salad line now have zero grams of trans fat per serving. In 2005, Wendy’s restaurants began offering margarine with zero grams of trans fat per serving with its baked potatoes.
Wendy’s provides consumers with comprehensive nutrition information, including trans fat totals, for all menu items via wendys.com and in-store nutrition brochures. The Company began providing TFA information in 2003, three years before mandated federal labeling requirements for packaged goods took effect.
The Company is now in the process of activating a system-wide training program to ensure a smooth transition to the new oil.