Wendy's CEO Says Food Quality Hasn’t Been Chain’s Top Priority—Vows Changes

BreakingBusinessWendy's CEO Says Food Quality Hasn’t Been Chain’s Top Priority—Vows ChangesByMary Whitfill Roeloffs,Forbes Staff. Mary Roeloffs is a Forbes breaking news reporter covering pop culture.Follow AuthorAug 24, 2026, 03:00pm EDTToplineNew Wendy’s CEO Bob Wright on Monday publicly admitted the company hasn’t made food quality its top priority and said the decision played a role in losing its No. 2 burger-chain ranking to Burger King—a candid self-diagnosis as rumors swirl billionaire investor Nelson Peltz is considering a deal to take the chain private following a massive loss in stock value. A container of Wendy's fries.Gado via Getty ImagesKey FactsWright, who took over as CEO in May, told the Wall Street Journal that Wendy’s has prioritized cost savings over ingredient quality and leaned too hard on discounts—moves he said are the reason it lost its No. 2 rank among the biggest burger chains in terms of U.S. sales to Burger King (McDonald’s is No. 1).He acknowledged the chain has become "over-reliant on promotional activity" and said he plans to shift focus back to the core menu, because "that's where you deliver intrinsic value for the customer."Wright used the interview to roll out what he says is a five-point plan to regain its ranking, targeting food quality, value, operations, store upgrades and digital sales, with Wright saying the menu must be rebuilt "at the ingredient level, at the item level, at the menu-category level."The new plan comes as reports indicate Peltz, through his firm Trian Fund Management, is preparing a bid to take The Wendy's Company private.Wendy's has lost more than half of its market value in the last two years, down from a high of around $20 per share in April of 2024 to under $9 on Monday. if (!window.cnxel) { window.cnxel = {}; window.cnxel.cmd = []; var iframe = document.createElement('iframe'); iframe.style.display = 'none'; iframe.onload = function() { var iframeDo...