Speaking on the sidelines of TheStreet sister publication, The Deal's, annual corporate governance conference Thursday, Wendy's (WEN) CEO Todd Penegor said he is glad activist investor Nelson Peltz is on his side. Peltz helps to create value, Penegor explained.

Peltz has been a director at Wendy's since 1993 and is currently its chairman.

Follow TheStreet's live blog of the conference here

More from Video

John Bogle Changed Wall Street Forever, Jim Cramer Says

John Bogle Changed Wall Street Forever, Jim Cramer Says

Stocks Are Walking a 'Tightrope' Right Now, and That's Good, Cramer Says

Stocks Are Walking a 'Tightrope' Right Now, and That's Good, Cramer Says

Netflix Will Probably Make Its Earnings Number, Jim Cramer Says

Netflix Will Probably Make Its Earnings Number, Jim Cramer Says

Companies Call For Substantive Solution to Trade Tensions

Companies Call For Substantive Solution to Trade Tensions

A VIP Peak Inside Jim Cramer's Members-Only Action Alerts Plus Call

A VIP Peak Inside Jim Cramer's Members-Only Action Alerts Plus Call