Wendy’s International Inc. is considering the sale of its company, among other options, as part of a special review.
This week, Wendy’s board of directors formed a committee to look at all options for the fast food chain’s future, including a possible sale. Board chairman James Pickett is leading the effort.
Company spokesperson Denny Lynch downplayed the sale option, saying it’s one of several the board is considering. Others include changing the company’s financial structure, changing Wendy’s strategic direction, or doing nothing at all.
“All options are on the table,” Lynch said yesterday. “At this point, there is no indication of the direction the board is taking other than the board will review all options.”
The board formed the committee as part of its role to look out for the best interests of company shareholders, he added.
News about the committee comes as Wendy’s released its first quarter earnings. The company earned $590.2 million in the first quarter of 2007, up 2% compared to $578.7 million versus the same period last year.
Wendy’s is banking on new products, including its Spicy Chicken Sandwich and breakfast menu, which is slowly rolling out, to boost store sales.
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