Wendy's Gives Fund Three Board Seats

In December, John T. Schuessler, the chief executive of Wendy's International, declined to meet with the billionaire investor Nelson Peltz, who was pressing for major changes at the struggling company. Yesterday evening, Wendy's announced that Trian Fund Management, the hedge fund controlled by Mr. Peltz and his longtime partner, Peter W. May, would be given three seats on Wendy's board.