Papa John’s founder out as CEO


John Schnatter, the founder of Papa John’s Pizza (PZZA), is stepping down as CEO of the Louisville-based chain, the company said on Thursday.

Schnatter, 56, will continue to serve as chairman of the board. Papa John’s COO Steve Ritchie will succeed Schnatter as CEO in January.

“I am humbled to take on this role,” said Ritchie. “By focusing on our team members, we will deliver the world class experiences our customers deserve.”

A prominent NFL sponsor, Papa John’s drew scrutiny last month after Schnatter publicly blamed the league’s handling of player national anthem protests for subpar third-quarter sales. The company later condemned white supremacy after the Daily Stormer, a neo-Nazi publication, praised Papa John’s as “the official pizza of the alt-right” due to Schnatter’s comments.- READ MORE

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