Wendy's names industry veteran Steve Cirulis as new CFO

June 23 (Reuters) - Wendy's ‌on ​Tuesday ​named industry veteran Steve Cirulis chief financial officer, to succeed Ken ‌Cook, effective immediately as the restaurant ⁠chain struggles with weak demand and activist investor ‌pressure.

The appointment comes soon ‌after the company last month named industry veteran Robert Wright president and CEO.

Here ​are some key details:

• Cirulis, 55, previously served as the financial chief ⁠of fast-casual restaurant chain Potbelly Corp, where Wright was ​the CEO.

• Activist Nelson Peltz's Trian Fund Management was exploring investor backing ​last month for a ‌potential bid to take the fast-food chain private.

• In February, ⁠Peltz said in an SEC filing that Wendy's stock was undervalued and that he ⁠had spoken with potential financing sources about possible ​deals, including an acquisition.

• Wendy's, whose shares are down about 13% so far this year, beat ‌its first-quarter revenue and profit expectations.

• Cook, who has been the ‌CFO since 2024, will remain in an ⁠advisory position through ‌July to facilitate ​a smooth transition.

(Reporting by Koyena Das in Bengaluru; Editing by Joyjeet ‌Das)

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