Wendy's announces long-term agreement with Eljuri Group in Ecuador The Wendy's Company announced a long-term agreement with The Eljuri Group to develop 20 Wendy's restaurants in Ecuador. Eljuri expects to open its first two Wendy's locations in 2013 in Guayaquil, a coastal city with a population of 2.3 million people.
Wendy's sees FY17 adjusted EPS growth in high-teens Sees FY17 adjusted EBITDA to be approximately flat due to impact of anticipated sale of 315 company-operated restaurants during 2016. Sees FY17 CapEx $80M-$90M and free cash flow of $150M-$200M. Sees FY17 adjusted EBITDA margins of 32%-34%.
Wendy's reimaged 450 total system restaurants in 2015 The company and its franchisees reimaged 450 total system restaurants and built 70 new restaurants in 2015, which has resulted in the reimaging of approximately 22 percent of the Wendy's North America system restaurants as of the end of 2015. The Wendy's system remains on schedule to reimage at least 60 percent of its North America restaurants by the end of 2020.
Wendy's currently conducting external search for new CFO The company announced in October that Chief Executive Officer Emil Brolick plans to retire from management duties with the company in May 2016. Chief Financial Officer Todd Penegor assumed the additional title of President in January and will succeed Brolick in the CEO role after a transition period beginning in the first quarter of 2016. The company expects that Brolick will continue to serve on the company's Board of Directors upon his retirement to ensure continuity of leadership and strategic focus for the company. The company is currently conducting an external search for a new CFO.