The Wendy's Co. announced that president and CEO Emil Brolick plans to retire from management duties with the company in May 2016. He is expected to be succeeded in the President and CEO role by current Executive Vice President, Chief Financial Officer and International Todd Penegor. The transition of these duties is anticipated to begin in the first quarter of 2016. Brolick is expected to continue to serve on the company's Board of Directors upon his retirement to ensure continuity of leadership and strategic focus for the company. The company is currently conducting an external search for a new CFO. Brolick has served in his role since September 2011, and previously spent 12 years with the company from 1988 to 2000 in various leadership roles.