Following that announcement, Ritchie said that he hoped the deal would put an end to the ongoing feud with Schnatter, telling CNBC's David Faber, "Obviously, we're very hopeful that we can bring John along." However, Schnatter has expressed concerns that Ritchie is not the right executive for Papa John's. It was simultaneously announced that Starboard Value CEO Jeff Smith would become the new Papa John's chairman and that Anthony Sanfilippo, former CEO of the gaming company Pinnacle Entertainment, would be another addition to the company's board. On February 4, 2019, it was announced that the activist hedge fund Starboard Value, which had played a large role in turning around the troubled Olive Garden restaurant chain, would be investing $200 million into Papa John's Pizza and that Starboard could possibly invest an additional $50 million by March 29, 2019. In addition to preventing him from accessing information, the corporation also implemented a poison pill strategy in order to limit Schnatter's chances of buying back a majority stake in the company. He describes the company's procedures as an "unexplained and heavy-handed way" to cut ties between him and the company that he founded. On July 26, 2018, Schnatter filed a lawsuit against Papa John's Pizza to give him access to the company's internal books and records after they fired him from the company following the teleconference call scandal. Īfter the incident, Ritchie apologized in an open letter, and ordered the company's workforce to undergo bias and diversity training. Schnatter resigned as chairman of the board on the day the incident was reported. After the call, the owner of the marketing agency moved to end their contract with Papa John's. On July 11, 2018, news outlets reported that during a conference call with the marketing agency Laundry Service that was working under contract for Papa John's, Schnatter had used the word " nigger" by saying " Colonel Sanders called blacks niggers and Sanders never faced public backlash." Schnatter said that referencing the quote by the KFC founder was meant to convey his dislike for racism. In February 2018, Papa John's and the NFL ended their sponsorship agreement after Schnatter's criticism of the NFL made headlines. On January 1, 2018, Schnatter stepped down as CEO of Papa John's Pizza in favor of company President Steve Ritchie Schnatter remained chairman. In 2009, Schnatter bought the Camaro back after offering a reward of $250,000 for the car. A year later it had 500 stores, and by 1997 it had opened 1,500 stores. Dipping sauce specifically for pizza was invented by Papa John's Pizza that same year, and has since become popular when eating pizza, especially the crust. His pizzas proved sufficiently popular that a year later he moved into an adjoining space. He sold his 1971 Camaro Z28 to purchase US$1,600 worth of used pizza equipment and began selling pizzas to the tavern's customers out of the converted closet. The Papa John's restaurant was founded in 1984 when "Papa" John Schnatter installed an oven inside a broom closet in the back of his father's tavern, Mick's Lounge, in Jeffersonville, Indiana. History 1984–2009 Logo used from 1994 to 2018, still used in Ireland Logo used from 2019 to 2021 Papa John's global presence has reached over 5,500 locations in 49 countries and territories and is the world's third-largest pizza delivery company. It is the fourth largest pizza delivery restaurant chain in the United States, with headquarters in the Louisville, Kentucky and Atlanta, Georgia metropolitan areas. Papa John's International, Inc., d/b/a Papa Johns, is an American pizza restaurant chain.
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