ibusinesslines.com November 17, 2018

Papa John's says founder resigned as chairman of the board

13 July 2018, 05:27 | Charlene Valdez

Papa John's says founder resigned as chairman of the board

Papa John's says founder resigned as chairman of the board

John Schnatter, the founder and chairman of US pizza chain Papa John's, is facing the heat after reportedly using the n-word during a company conference call in May.

He said the outrcry over NFL players kneeling during the national anthem to protest racism was partly to blame, with Papa John's sponsoring the league until February this year.

On the May call, Schnatter was asked how he would distance himself from racist groups online. He responded by saying that, "Colonel Sanders called blacks n*****s", going on to lament that the KFC founder never faced a public backlash. He also reportedly spoke nonchalantly about growing up in IN where black people were dragged to death.

In a company-released statement, Schnatter acknowledged that he made the "inappropriate and hurtful" remarks, going on to apologize for his actions "regardless of the context". So the school can't simply keep the name in place and say it's no big deal because Schnatter is no longer associated with the company that has his name.

Shares of Papa John's Pizza (PZZA) fell almost 6 percent after the report and were lately down 2.4 percent.

The company had noted in a previous regulatory filing that its business could be harmed if Schnatter's reputation were negatively impacted.

Unsurprisingly, Papa John's shares have taken a hit since news of the call broke.

Schnatter, 56, also resigned from his position on the University of Louisville's board of trustees, effective immediately, according to the school.

Schnatter admitted Wednesday to using a racial slur during a May conference call, and offered his resignation.

Laundry Service declined to comment on the Forbes story. After hearing of the incident, Laundry Service owner Casey Wasserman moved to terminate the agency's contract with Papa John's, Forbes reports.

Papa John's Pizza's vocal chairman, John Schnatter, is under fire again. He added that the members of the board don't condone racism or "insensitive" language. He confirmed the allegation in his apology.

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