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Wendy’s CEO says cost cuts hurt food quality as more stores close

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Wendy’s CEO Bob Wright told the Wall Street Journal that the chain sacrificed food quality to pursue cost savings, contributing to its decline. Wright said the company is rolling out a five-point plan to improve food quality, value, and operations and has shut more stores than it opened over the past year. He also discussed Project Fresh’s plan to close, improve, or change operators at up to 360 locations and its engagement with activist investor Nelson Peltz’s Trian Fund.

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