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Search every verified Todd Penegor interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Todd Penegor, president and CEO of Wendy’s, delivered the commencement address at Michigan State University’s Eli Broad College of Business in 2017, where he also received the Outstanding Alumni Achievement Award. In his speech, Penegor described his career path from an accounting role at a local consulting firm to positions at Ford Motor Company and Kellogg’s before joining Wendy’s in 2013 and becoming CEO the following year. He stated that upon becoming CEO, he committed to spending at least three days per month in the field with restaurant teams, and that his first focus was not on business strategy but on defining the company’s purpose, which he said was “to create joy and opportunity for people” through food, family, and community. Penegor emphasized the importance of leadership as a responsibility to leave communities better than they were found, and he advised graduates to be open to opportunities, work hard, and be team players. He described franchising as combining “the freedom of entrepreneurship with the comfort of being part of something bigger than yourself,” and noted that at Wendy’s he inherited a strong team and was tasked with charting a path to accelerated growth rather than turning the company around.
“When I became the CEO at Wendy's, I made a similar commitment to our franchisees, that I'd spend at least three days every month out in the field with the restaurant teams. It's not easy to do, time is precious, and there's never enough of it. And it also takes courage.”
“One of the first things I did wasn't anything related to business strategy. I gathered our team and together, we tried to answer one simple question, what's our purpose as a business? Said another way, what would the world be missing without Wendy's? And we realized, that while we make great hamburgers and iconic Frost...”
“We felt our unique contribution to the world is to create joy and opportunity for people, and we do that through our food, our family, and our community.”
“Opportunity's a powerful idea. It means giving the opportunity to people for a first job and a chance to develop skills they will use for the rest of their career. For others, our restaurants are a career path, a way to provide stability and flexibility for their families as they pursue education or seek out management...”
“Franchising combines the freedom of entrepreneurship with the comfort of being part of something bigger than yourself. As a franchisee, you're in business for yourself, but not by yourself.”
“At Wendy's, I was fortunate to inherit a great team with a solid business strategy that I helped create. I wasn't coming in to turn around the company. Instead, I was responsible for taking a great company and charting our future to accelerated growth.”
“My advice to all of you is to be bold, take advantage of the opportunities that you see or are given even, if they weren't in your original plan. You're a Spartan after all, and who will, Spartans will.”
“Good guys don't finish last, great teams finish first. So if you dream big and always look for a winning team to play on, you're well on your way to a rewarding career journey.”
“Leadership is not just a privilege, it's also a responsibility to leave the people in the communities you are impacting better than you found it, and to make a difference in a positive way.”
“To be a leader, connect to the communities you serve, find causes and chase dreams that you can pour your heart and soul into, make it your life's work to use the skills you've built here to do good in the world.”
Todd Penegor, President and CEO of The Wendy's Company 2017 Eli Broad College of Business Commencement Guest ...
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