Robert Wright, a former executive of Wendy's who previously served as Chief Operating Officer, will officially return as the company's CEO on Thursday, tasked with reversing the brand's declining sales in the U.S. market.

Wright is rejoining Wendy's to lead efforts aimed at improving the fast-food chain's revenue performance in the United States. He previously worked at Wendy's for over four years, holding the position of COO. After leaving, he became CEO of the sandwich chain Potbelly, where he oversaw its sale to convenience store operator 7-Eleven for approximately $566 million last year. He has also held senior management roles at other food service companies including Charley's Steakery, Checkers Drive-In Restaurants, and Domino's Pizza.

The appointment is effective this Thursday, and Wright will also join the company's board of directors. Wendy's announced on Wednesday that the current interim CEO, Ken Cook, will continue in his role as Chief Financial Officer.

Wendy's is currently advancing a turnaround plan focused on improving food quality and closing underperforming stores. The brand faces ongoing pressure on U.S. sales due to rising beef costs and more budget-conscious consumer spending, making Wright's arrival timely.

Wright stated, "I am honored and energized to return to Wendy's at this pivotal time for the brand. I will focus on enhancing the customer experience, improving operational execution, and strengthening franchisee profitability to drive sustainable, profitable growth for the business. I am confident in Wendy's future."

Wendy's latest financial report shows overall same-store sales declined by 6.8% year-over-year, with U.S. same-store sales dropping sharply by 7.8%. First-quarter revenue grew by 3.3%, primarily due to increased franchise fee revenue from the store optimization program.

Earlier this month, the Financial Times, citing informed sources, reported that Nelson Peltz's hedge fund Trian Fund Management was seeking investor support for a plan to take Wendy's private. Following the report, Trian did not respond, and Wendy's declined to comment at the time.