Home » World

Papa John's founder to quit as CEO

23 December, 2017, 01:59 | Author: Kristen Ingram
  • Papa John's founder steps down after blaming anthem protests for slumping sales

John Schnatter, the founder of pizza delivery giant Papa John's, is stepping down as the CEO of his company, the Wall Street Journal reports.

According to The Washington Post, Schnatter will be replaced by Chief Operating Officer Steve Ritchie on January 1, the company announced Thursday.

It's not clear if Schnatter's resignation is directly related to his comments about the NFL.

In their third quarter earnings call, Papa John's CEO John Schnatter claimed that the ongoing National Football League protests have affected his company's earnings, and that they will be pulling some of their advertising associated with the NFL. He also dished out some criticism to Roger Goodell for not handling it, because it was hurting their sales.

"Leadership starts at the top, and this is an example of poor leadership", Schnatter said in a call with investors. "The statements made on our earnings call were describing the factors that impact our business and we sincerely apologize to anyone that thought they were divisive", the company tweeted.

Papa John's stock closed at $59.23, down 2 cents or 0.03 per cent on Thursday. Same-store sales were actually in the green at 1 percent growth, year-over-year. "We do not want these individuals or groups to buy our pizza", the company said following the post on Papa John's being the official pizza of the alt-right. He is being replaced as CEO by company president Steve Ritchie.

This is not the first time that Schnatter has stepped down as CEO. He took a break from being CEO between 2005 and 2008.

John Schnatter, better known as Papa John, is the American entrepreneur who founded Papa John's global.

For the good of Papa's shareholders, hopefully Ritchie can still deliver the dough.



Princess Michael of Kent's racist jewelry greets Meghan
The jewelry, dubbed "blackamoor" jewelry is a bust of a black person adorned with a gold crown and colorful crystals. I wanted experiences from Cape Town to right up in northern Mozambique.

Mamma Mia! character may be dead
She's playing a grandma, specifically Sophie's ( Amanda Seyfried ), as Sophie is expecting a baby of her own this time around. Radio Times also notes that Cher , who plays Donna's mother in the sequel, wrote on Twitter that Meryl Streep was on the set.

Declining population knocks IL down to 6th-largest state
Many neighboring states, like Indiana, Iowa, Minnesota and MI , all saw moderate population gains during the same period. In 2017, 38.0 percent of the nation's population lived in the South and 23.8 percent lived in the West.

Limerick company to beam winter solstice to millions
Precisely how short that is varies with how far north or south you are-around the solstice, the sun never truly rises at the north pole.

AT&T's big $1 billion tax bill investment was announced 6 weeks ago
AT&T was quick to respond to news of USA tax reform, announcing it would give some employees bonuses once the legislation is signed into law.

MLS to make major announcement in Nashville Wednesday
If either Sacramento or Cincinnati doesn't get a franchise now, they're nailed on to join a year later. A second expansion team will go to Cincinnati , Sacramento or Detroit .

Pentagon program investigated reports of UFOs
It was run out of the Pentagon by Luis Elizondo, a military intelligence official, before officially winding down in 2012. It was the brainchild of former Nevada Democrat Senator Harry Reid , who pushed for its creation in 2007.

Tuesday Apple Rumors: AirPods May Get an Upgrade in 2018
The analyst predicts that the upgraded AirPods will come with hardware improvements. But if you had your eye on a pair of AirPods this Christmas , don't despair.

This Self-Healing Glass Could Fix Your Phone Woes
Unlike other self-healing materials , which require heat to perform their bonding behavior, this glass functions at room temperature .

Sean 'Diddy' Combs interested in Carolina Panthers
Rivera said he hopes the team stays in Charlotte under any new owner, where it has been since its creation in 1995. We will not begin the sale process, nor will we entertain any inquiries, until the very last game is played.