Papa John's founder resigns as chairman

12 July, 2018, 18:25 | Author: Wade Massey
  • Papa John's founder resigns as chairman

In the meantime, Olivia Kirtley will act as the company's lead independent director, the company said.

In a statement to BuzzFeed News, Schnatter confirmed he'd used the n-word and offered an apology.

"Regardless of the context, I apologize", the statement says.

In a statement about the board accepting his resignation, Papa John's said it would appoint a new chairman in the coming weeks.

Papa John's pizza founder John Schnatter has had a long history of running his mouth off and it has finally caught up to him.

During the call, Schnatter downplayed the severity of his critical comments about the National Football League, arguing that KFC founder Colonel Harland Sanders had "called black people [the N-word]" without facing a backlash.

Papa John's has once again shot itself, blowing off its metaphorical foot.

Shares of Papa John's International, Inc. are down 1.39 as of this posting, at 49.40.

Incident comes on the heels of Schnatter's 2017 criticism of the NFL's national anthem protests.

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Schnatter stepped down as Papa John's CEO in January.

Forbes reported that the call in May was meant to help Mr. Schnatter avoid future public relations blunders involving race. In the same call, Schnatter also reminisced over his upbringing in IN, where he claims African-Americans were dragged from the back of trucks until they died.

Via Noah Kirsch of Forbes.com, Schnatter had hired Laundry Service, a marketing firm owned by Casey Wasserman, to assist with the comeback effort.

The source added that although Schnatter intended for his remarks to show his stance against racism, multiple people found it objectionable. It's weird and it's freaky and given that "Papa John" was trending on Twitter for much of the day, this latest unforced error becomes yet another indication that his company will continue to struggle.

Although Schnatter apologized, the Trump supporting, anti-Obama pizza man was dragged on Twitter.

Laundry Service declined to comment on the situation.

Papa John's stock dropped almost 5 percent by the close of the stock market Wednesday, the lowest it's been in almost two years.

There are more than 3,400 Papa John's restaurants in the United States and Canada, including 40 in New Jersey.

John Schnatter (R), founder and chief executive of Papa John's Pizza, arrives at the 2011 American Music Awards in Los Angeles November 20, 2011.

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