Miami's Burger King named Greg Brenneman, currently head of a Houston-based equity firm, as its new chief executive officer. Brenneman, who helped turn around PricewaterhouseCoopers Consulting and Continental Airlines, has been leading TurnWorks of Houston.

Brenneman will begin August 1 and replace Brad Blum, who left July 2. He is expected to work closely with John W. Chidsey, who was appointed last month as president of the company's North American operations.

Brenneman comes at a difficult time for the No. 2 fast food chain, the Wall Street Journal said.

Almost a fifth of Burger King's units lose money, and three of its 10 largest franchisees have sought bankruptcy court protection recently. Burger King has been steadily closing units as Wendy's International opens them.

"(Brenneman) is an accomplished and experienced executive whose drive for fast-paced change and enhanced performance will be invaluable to Burger King Corporation as it strengthens its position in the fast food industry," the board said in a statement.