Dallas, Texas 05/22/2014 (FINANCIALSTRENDS) – The activist investment fund- Trian Fund Management LP, has axed its interest in the activist investment fund, by around 30% in the Q1, as per the filing with the SEC. The fund sold almost 27M shares of the fast-food chain, where Nelson Peltz, the co-founder of Trian serves as the chairman of the board & fellow founders Ed Garden & Peter May are on the company board too. Trian had continued to own 64.8M shares of the company which was a 17.7% stake, at March end as per the filing. Currently, Trian is waging a big fight to split-up the drinks & snack operations of PepsiCo Inc.
Targeting the Millenials
In separate news, The Wendy’s Co (NASDAQ:WEN) is now targeting Millenials in a bid to up its sales. Millennials would typically rather eat some fast-casual instead of fast food. But Wendy’s is now intent on luring this new gen of consumers away from products like Chipotle & Panera Bread. Emil Brolick, the company’s CEO said that they are extremely mindful of how important it is to gain traction with the millennials. Brolick has highlighted a few new ways in which the company is trying to draw-in this younger crowd. They have now created a “Red” character for their commercials.
The redhead who featured in The Wendy’s Co (NASDAQ:WEN)’s commercials is definitely a millennial, Brolick said. The Burger Business calls this character, who is now infatuated with the burger chain, a very “effective spokeswoman.” Red has been played by Morgan Smith Goodwin, a 28-year-old actress. The company has also launched its Pretzel Bacon Cheeseburger with a “Love Songs” digital-promotion. This promotion featured many performers who are the consumers’ on the Facebook comments & tweets. This marketing campaign was very successful in spreading audience reach to all millennial consumers at a very low cost.