NEW YORK (AP) — Wendy's is extending the contract of President and CEO Emil J. Brolick by one year.
Brolick's contract was set to expire on Sept. 12. The hamburger chain also said in a regulatory filing that the amended agreement allows for Brolick's contract to be automatically extended for additional one-year periods unless Wendy's Co. or Brolick gives at least 90 days' notice before the end of the then-current term that they do not wish to renew it further.
Wendy's, based in Dublin, Ohio, has been working on remodeling its stores. The company has been pushing the remodeling aggressively as a way to position itself as a more premium fast-food chain.
Wendy's is trying to revamp its image to be more in line with chains like Panera Bread, which charge a little more than traditional fast-food chains like McDonald's and Burger King. That push includes adding menu items such as the Pretzel Bacon Burger that command higher prices.
Shares of Wendy's fell 11 cents to $8.21 in Tuesday morning trading.