Arby's CEO departs company

Atlanta Tom Garrett, a longtime Arby's executive in charge of the struggling restaurant chain, is leaving the company.

Roland Smith, president and CEO of parent company Wendy's/Arby's Group, will step into the role on an interim basis while the company searches for a permanent replacement. The company said Smith will attempt to lead an effort to reinvigorate sales.

"It was a difficult decision, but one that was necessary at Arby's because the brand's results over the last year have been below expectations," said spokesman Bob Bertini. "The entire Arby's team will be focused on a turnaround of the brand -- with stronger marketing, product development and operations to improve same-store sales and margins."

The company said Garrett may become a franchise owner.

His departure comes as Arby's continues to underperform its more affordable sibling, Wendy's.