DUBLIN, OHIO — For the second time in three years, The Wendy’s Co. is turning to The Kellogg Co. to fill its chief financial officer post. Gunther Plosch has been named c.f.o. of The Wendy’s Co., effective May 2. Mr. Plosch’s appointment continues the company’s previously announced succession plan for Emil Brolick, who will retire as chief executive officer following the company’s annual meeting of stockholders on May 26.
Mr. Brolick is expected to be succeeded as c.e.o. by current president and c.f.o. Todd Penegor. Mr. Penegor will transition his c.f.o. duties to Mr. Plosch during the month of May, and Mr. Penegor will retain his position as president of the company upon his appointment as c.e.o. Mr. Brolick is expected to continue to serve on the company’s board of directors following his retirement to ensure continuity of leadership and strategic focus for the company.
“I am confident that Gunther will be an excellent addition to The Wendy’s Co. and our senior leadership team,” said Mr. Penegor, who joined Wendy’s from Kellogg back in May 2013. “He brings a wealth of financial leadership experience from the food and consumer packaged goods industries, and he has a proven track record of driving growth and margin expansion, which will serve both our company’s and our franchisees’ business models well. We are eager to benefit from his contributions to the brand.”
Before Wendy’s, Mr. Plosch spent the past 16 years at Kellogg, where he held several roles in finance with increasing responsibility, including his most recent assignment as vice-president of global business services and, previously, vice-president and c.f.o. for the Kellogg North America business. He began his career with The Procter & Gamble Co. in Austria, where he spent nine years in various divisions, ultimately serving as associate director of finance for the Central and European division. He joined Kellogg in 2000 as the finance director in the United Kingdom division and was subsequently promoted to the U.S. business in 2005, where he led finance teams in corporate planning and Morning Foods. In 2010 he became c.f.o. of Kellogg North America and in 2014 was elevated to vice-president of global business services.A native of Salzburg, Austria, Mr. Plosch received a marketing and finance degree from Johannes Kepler University. He also completed service in the Austrian military.