Wendy’s launch Project Fresh to accelerate global brand growth

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The Wendy’s Company has announced Project Fresh, a comprehensive strategy focused on growth, operational excellence and long-term shareholder value.

The plan, announced this week, is built around four pillars: brand revitalisation, system optimisation, operational excellence and capital reallocation.

Wendy’s said the programme is designed to create long-term value for franchisees, employees and shareholders while positioning the brand as a global industry leader.

Chairman of the Board Art Winkleblack said the leadership team is not satisfied with the company’s current valuation. “Execution is underway and we are confident that Project Fresh will position Wendy’s as the industry leader. Guests will love it, franchisees will be proud to operate it, teams will be excited to be part of it, and shareholders will see significant value.”

A central theme of Project Fresh is the commitment to stronger collaboration under what the company calls the “One Wendy’s” approach. Interim Chief Executive Officer and Chief Financial Officer Ken Cook said this will create a more unified system.

“Wendy’s is a brand built on quality, authenticity and innovation,” he explained. “With Project Fresh, we’re taking decisive steps together as One Wendy’s to strengthen our foundation, enhance restaurant performance and modernise how our customers experience the brand. Project Fresh is about reigniting the energy and distinctiveness that have always made Wendy’s special, while positioning the Company and our franchisees for profitable growth.”

The four pillars

Brand revitalisation will be a key focus. Wendy’s has retained consultancy Creed UnCo, led by Greg Creed, former CEO of Taco Bell and Yum! Brands, to guide the process. The aim is to sharpen the chain’s marketing strategies using data-driven customer segmentation while drawing on its long heritage of quality, innovation and authenticity. The company said this work will help ensure the brand resonates strongly with the next generation of consumers.

Alongside this, system optimisation will see Wendy’s redirect resources to drive average unit volume growth in the United States. This will include optimising labour and operating hours across different dayparts, implementing market-specific profitability measures and applying insights from company-operated restaurants to benefit franchisees. Internationally, capital will be deployed carefully to sustain strong growth momentum following recent market entries and to unlock further global opportunities.

The company plans to enhance the in-restaurant customer experience by investing in digital technology, simplified processes, updated equipment and improved training. The company said this focus on hospitality and efficiency will make operations smoother for teams while delivering a stronger experience for guests.

Capital allocation is also being restructured. Wendy’s will reportedly reduce spending on its Build to Suit programme by around $20 million in 2025, with a larger cut expected the following year. Savings will be redirected to technology and marketing investments that directly support growth. The company has also engaged an independent financial advisor to identify further opportunities to optimise capital deployment.

Despite these Project Fresh changes, Wendy’s confirmed it remains committed to maintaining its dividend and returning capital to shareholders, supported by strong free cash flow generation.

Ongoing search for permanent CEO

The board is also pressing ahead with the search for a permanent CEO.

Winkleblack said a global executive search firm is working with the company as it evaluates both internal and external candidates to ensure the “strongest leadership to guide the Company through its next phase of growth.”

He added: “We will take the time necessary for this process and are targeting completion by the end of the year.”