Wendys Co (NASDAQ:WEN) ended the last trading session with a gain of 2.08% though the volume of the day at 3.3 million was absolutely the same with the daily average. The volume pattern shows the current indifference on the part of the traders as the intensity of the selloff has seen a decline in the last few days. The price has been in a short term trading range in the band of $8.50-$9.50 but that can be considered as a pause only, from the long term perspective. As seen from the chart attached, there is no sign of the bears releasing theirs grips any soon.
Papa Murphy’s Holdings Inc (NASDAQ:FRSH) reported that Brandon Solano will be its CMO effective next month, a step that brings the Wendys Co (NASDAQ:WEN) CMO back into the growing pizza industry. Wendys stated that Solano resigned from his post of Chief Marketing Officer, which he took on in 2015. Earlier in October, Kurt Kane was named as Chief Concept and Marketing Officer during the announcement of a new four for $4 meal.
The details
Mr. Solano, who joined Wendys in 2014, will take the role of Papa Murphy’s CMO effective November 30, 2015. Prior to his role with Wendys, Solano held several VP profiles at Domino’s Pizza Inc. He starred in Domino’s commercials, wherein he was stated as a pizza chef in spots that promoted company’s reformulated pizza. Solano was included in the list of Wendys CMO-designate in December 2014, and took on the role in 2015, succeeding Mr. Craig Bahner, who joined Kellogg to head its U.S. morning foods division.
The change
Solano’s resignation is not the only executive change at Wendys. Recently, the burger chain disclosed that the CEO and President Emil Brolick intends to retire in coming May and will be succeeded by Todd Penegor. Brolick is expected to remain a member of Wendys’ board, which is headed by Chairman Nelson Peltz.
Ken Calwell, the CEO and President of Papa Murphy’s said that Solano’s extensive experience in directing successful brand growth measures in the CPG pizza and foodservice segments make him an invaluable asset to company as they continue to establish the brand across the country. Prior to Domino’s, he was associated with Procter & Gamble Co (NYSE:P) and Hershey Co (NYSE:HSY).
In unrelated news, Wendys fired two fast food workers after they were found guilty of placing a racist note inside children’s meal. The chain has formally apologized to customer.
