PepsiCo veteran of 32 years defects to Wendy's as chief executive officer

By Jonathan Roeder

Wendy’s Co. — the burger chain that serves beverages from Coca-Cola Co. — hired a PepsiCo Inc. executive of 32 years as its new chief executive officer. 
 

Kirk Tanner currently serves as CEO of PepsiCo’s North America beverage business, and the company said he will “retire” on Feb. 2. He’ll have to cram in a lot of shuffleboard and AARP discounts in a hurry: Wendy’s released a statement at the same time saying Tanner, 55, will succeed Todd Penegor, 58, as CEO starting Feb. 5. 

Tanner has led PepsiCo’s North America beverage division since 2019. The Purchase, New York-based company named Ram Krishnan, who leads the international beverage business and is the company’s chief commercial officer, to replace him. 

 

North America beverages made up more than 30per cent of PepsiCo’s revenue in the most recent quarter, making it the biggest division by that measure. 

In the Wendy’s statement, Tanner said he is “energized by the future potential and expansion opportunities for the business.” He offered no thoughts on a probable change of beverage preferences.

The Dublin, Ohio-based chain, known for its Baconator burgers and spicy chicken sandwiches, is poised to post its sixth straight annual sales gain for 2023. The company will release fourth-quarter results on February 15.