Arby's CEO Steps Down, Looks at Becoming Franchisee

ATLANTA – Wendy’s/Arby’s Group, Inc. (NYSE: WEN) announced that Tom Garrett, president and chief executive officer of Arby’s Restaurant Group, Inc., is stepping down. Roland Smith, 55, current president and CEO of holding company Wendy’s/Arby’s Group, will assume the interim role as president of Arby’s, effective immediately. A search is currently under way for a permanent president of Arby’s to lead the turnaround of the company.

Smith stated, "We are beginning discussions with Tom about becoming an Arby’s franchisee and hope that he continues to be involved with the brand.”

Garrett, 48, was appointed president and CEO of Arby’s in September 2008, following the formation of Wendy’s/Arby’s Group. He had been president and chief operating officer of Arby’s.