Papa John's Has Lost Its Papa

25 December, 2017, 17:33 | Author: Clint Gray
  • More brands could be on the fence over partnerships with NFL | Fanbuzz

Papa John's CEO John Schnatter announced that he is stepping down as CEO just several months after his controversial statements about protesting National Football League players led to accusations of racism and the official endorsement of the alt-right.

As he takes the helm on January 1, he'll have to cope with slowing growth.

We guess Papa John's is going to have to find "better ingredients" for their boardroom...

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The pizza maker's stock has lost more than 30 percent of its value since the beginning of 2017, and Schnatter believed declining sales were related to the NFL's decline in ratings.

"In his duties as Chairman and founder, Schnatter will continue to champion the core principles that led to recognition as the industry leader in product quality and customer satisfaction", the release stated. No reason for Schnatter's changing role was given, but the company said he will be pursing "his personal passion for entrepreneurship, leadership development, and education", according to Bloomberg.

"At the very least, it was distracting and I'm wondering whether this was board-driven or if it was John's choice", said restaurant consultant John Gordon of the Pacific Management Consulting Group. It's not the first time Schnatter has stepped down.

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It also called for the electoral tribunal "to transparently and fully review any challenges filed by political parties". Violent protests erupted across the country, in which Amnesty International said at least 14 people had been killed.

"The NFL has hurt us", Schnatter said. "This should've been nipped in the bud a year-and-a-half ago".

"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". He took a break from being CEO between 2005 and 2008. In 2010, he took on a co-CEO, Jude Thompson, but that arrangement ended the following year. He eventually became a franchise owner in 2006 and owns nine locations.

"He's in every ad", Gordon said. "We'll see if he steps back from that".

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They also made Flowers uncomfortable in the pocket, as the senior quarterback missed two would-be touchdowns early in the game. Wide receiver Keke Coutee , the Red Raiders' most explosive player, caught 11 passes for 187 yards and one touchdowns.

John Schnatter owns nearly 9.5 million shares of Papa John's International Inc., valued at more than $560 million.

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