Fox Business·2025-07-09 01:10Group 1 - Wendy's CEO Kirk Tanner is stepping down after approximately 14 months in his role and will become the CEO of The Hershey Company starting August 18 [2][4] - Tanner succeeds Michele Buck, who has been CEO of The Hershey Company for seven years and will assist Tanner in a senior advisory role during the transition [4] - Wendy's has appointed Ken Cook, the current CFO, as interim CEO while searching for a permanent replacement [5] Group 2 - Wendy's is facing challenges, including a nearly 31% decline in stock value since the beginning of the year, attributed to fewer sales [8] - Analysts indicate that Tanner's departure comes at a difficult time for Wendy's, as the chain has underperformed compared to its peers [7] - The Hershey Company is also experiencing increased costs due to tariffs and high cocoa prices, although analysts believe significant changes are not necessary for stabilization [10]