Papa John's founder John Schnatter will step down as CEO next month, in the wake of controversy over his public criticism of the NFL's handling of national anthem protests by football players.
Schnatter, who appears in the chain's commercials and on its pizza boxes, and is the company's biggest shareholder, remains chairman of the board.
Earlier this year, Schnatter blamed slowing sales growth at Papa John's - an NFL sponsor and advertiser - on the outcry surrounding players kneeling during the national anthem. Papa John's apologized two weeks later, after white supremacists praised Schnatter's comments. The Louisville, Kentucky-based company distanced itself from the group, saying that it did not want them to buy their pizza.
Shares of Papa John's are down about 13 percent since the day prior to Schnatter's controversial comments. The company hasn't decided if Schnatter will still be its spokesman, saying that a decision will be made early next year.
No comments:
Post a Comment