11:47 ET--Kirk Tanner is trading cheeseburgers for chocolate bars, stepping down as Wendy's CEO after about a year and a half in the position in order to assume the top role at Hershey. "In our view, this is a loss for Wendy's, as the brand has been working hard to differentiate itself with new limited-time offerings like the SpongeBob Kollab, Taki's Chicken Sandwich and an assortment of new Frostys," BTIG analysts say in a research note. They expect Wendy's growth strategy to be stagnant for about a year following Tanner's departure, given the time it will take to identify and hire a new leader. "We are hopeful new leadership will double down on remodels to allow the brand to compete more effectively against larger quick-service restaurant operators," the analysts write. (connor.hart@wsj.com)
(END) Dow Jones Newswires
July 08, 2025 11:47 ET (15:47 GMT)
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