Wendy’s announces plan to redesign organizational structure

On February 16, the Board of Directors approved a plan to redesign the company’s organizational structure to better support the execution of the company’s long-term growth strategy by maximizing organizational efficiency and streamlining decision making. As a result of the redesign, the company expects to hold its general and administrative expense in 2023 and 2024 relatively flat versus 2022. The company expects to incur total costs of approximately $11M-$13M related to these savings, of which approximately 85% is expected to be cash expenditures.