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

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