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Papa John's founder to quit as CEO

Papa John's has been the official pizza provider of the NFL since 2010

Reuters 

“By not resolving the current debacle to the player and owners' satisfaction, NFL leadership has hurt Papa John’s shareholders” John Schnatter, founder, Papa John’s International

Papa John’s founder will step down as chief executive by the year-end, the chain operator said on Thursday, weeks after his comments on the leadership drew criticism. The company said Chief Operating Officer Steve Ritchie will succeed Schnatter, who is also the chairman of the board. Schnatter, 56, who founded the company in 1984, came under fire in November after he criticized the National Football League’s leadership over national anthem protests by players. “The has hurt us.

And more importantly, by not resolving the current debacle to the player and owners' satisfaction, leadership has hurt Papa John’s shareholders,” Schnatter had said during the company's third-quarter earnings call on November 1. The comments generated huge backlash on social media, prompting the company to tweet an apology for Schnatter’s comments. Papa John’s has been the official provider of the since 2010. Ritchie, 43, started with Papa John's 21 years ago as a customer service representative. He was made COO in 2014 and president in 2015. Shares of the Louisville, Kentucky—based chain are down over 30 per cent this year.

First Published: Sat, December 23 2017. 02:10 IST
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