Jan. 4 (Bloomberg) -- Arby’s Restaurant Group Inc., the roast-beef sandwich chain spun off from Wendy’s Co. last year, named George Condos chief operating officer.
Condos, 56, who has served as chief executive officer of Friendly Ice Cream Corp. and as senior vice president and brand officer at Dunkin’ Brands Group Inc., began working with the company in November and started at headquarters yesterday. He replaced Diana Petrovich-Tao, who left the company.
“There are a number of challenges that the brand currently has,” Condos said in a telephone interview today. Arby’s is “really working on the solutions” by simplifying the menu and improving service speed at its restaurants, he said.
Arby’s has sought to turn around the brand and reverse slumping revenue, which declined from 2008 to 2010, when it was owned by Wendy’s. Comparable-restaurant sales rose about 5.5 percent last year, and customer traffic trends also improved, Condos said. The Atlanta-based restaurant chain has recently advertised premium beef called “Ultimate Angus” and touted its menu as “Good Mood Food.”
Roark Capital Group, an Atlanta-based buyout firm, bought about 82 percent of Arby’s from Wendy’s in a deal valued at $430 million in July. The sale undid the union created by billionaire investor Nelson Peltz in 2008. Peltz and his Trian Fund Management LP owned about 24 percent of Dublin, Ohio-based Wendy’s as of Dec. 1, according to data compiled by Bloomberg.
There are more than 3,600 Arby’s locations globally.
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