The Upper Arlington man who led a failed bid to buy Wendy’s International will instead serve as the company’s president after its sale to Triarc Cos.
J. David Karam, 50, leads Cedar Enterprises, which owns more than 100 Wendy’s restaurants across the country. Backed by two private-equity firms, he battled Triarc, parent of Arby’s, for ownership of Wendy’s.By all accounts, Karam came very close to buying the burger chain but was bested at the last minute by Triarc, led by billionaire investor Nelson Peltz.
Karam’s father, Joseph, was one of the original investors in Wendy’s when Dave Thomas started building the chain almost 40 years ago.
“Would I say it’s a return of a little bit of the old guard? Sure,” said Karam, who addressed employees today in the lobby of Wendy’s Dublin headquarters. “I can’t overstate the honor that I feel to provide leadership to this brand. We have one of the most powerful brands in the country.”
Karam’s appointment sent a signal that Wendy’s headquarters will remain in Dublin, one franchisee said. The new management team will include two other Wendy’s alumni: Stephen D. Farrar and Ken Calwell, who were named chief operating officer and chief marketing officer, respectively.
Logo from Wendy’s.
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