Who is Ken Cook? All details about Wendy’s interim CEO

Ken Cook, Wendy’s interim CEO and CFO, has outlined plans for major restaurant closures as part of a broader restructuring effort. Speaking during a recent earnings call, Cook said around 300 U.S. locations—out of roughly 6,000—could shut down by 2026. The closures are aimed at improving overall efficiency and reallocating resources to stronger-performing restaurants.

Cook stepped in as interim CEO in July 2025 following the exit of Wendy’s previous chief executive. He had joined the company as CFO in late 2024, bringing with him over 20 years of experience in finance, including a long career at UPS.

Instead of chasing trends, Cook is focusing on underperforming outlets under a strategy known internally as “Project Fresh.” The initiative targets operational improvements and long-term growth across the brand.

Wendy’s has recently seen a 2.6% drop in worldwide sales and a 4.7% decline in recurring store revenue. Rising costs and higher food prices have contributed to fewer customers visiting the chain.

Cook explained the approach during the earnings call: “We’re taking a hard look at underperforming restaurants from both financial and customer experience perspectives. We are working with franchisees to either improve these locations, transfer ownership, or close them, which will free capital for reinvestment in stronger areas. This is part of a detailed process to ensure the long-term health of the system.”

Last year, Wendy’s closed 140 locations across Ohio that were considered outdated or low-performing. The company plans to continue this lean strategy while modernizing operations to meet current market demands.