Wendy’s to Consider Options for Baja Fresh
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Bowing to investor wishes, Wendy’s International Inc. said it would consider options for its Baja Fresh Mexican food chain and accelerate the separation of its coffee-and-doughnut brand in a bid to counter slumping sales.
The nation’s No. 3 hamburger chain also said it planned to expand its board to 15 members, adding three people pushed by an investment firm seeking to boost shareholder returns.
Wendy’s also said it would complete a public offering of its Tim Hortons coffee-and-doughnut chain and spin off its remaining shares by year-end. That was a more ambitious schedule than Ohio-based Wendy’s had previously announced.
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