Wendy’s CEO Bob Wright has publicly acknowledged that the company failed to make food quality a top priority, contributing to its loss of the No. 2 U.S. burger-chain ranking to Burger King. Wendy’s held the position for six years before a 7% decline in domestic same-store sales pushed it to No. 3, while Burger King reported 8.5% U.S. same-store sales growth in the second quarter. Wright is rebuilding the leadership team, including hiring a former McDonald’s executive as chief marketing and customer growth officer, while seeking to reduce reliance on deals and cost discipline. The operational turnaround is unfolding alongside potential strategic action by Nelson Peltz’s Trian Fund Management, which owns a 16% stake and is discussing options including a possible take-private transaction with potential investors.