The pizza giant, Papa John’s, hit an extremely rough patch after the PR nightmare caused by its founder John Schnatter. The former CEO was caught in a negative media storm, along with his company, when his use a racial slur during a conference call was leaked and publicized. Despite his being the cause a series events that led to his being ousted from his own fice at the Papa John’s headquarters, Schnatter still thinks the company would be better f with him on board as he was before.
The value company shares fell by 9% on Tuesday. Stevie Ritchie, the president and current CEO acknowledges this diminished performance.
“Results have been challenged by recent events. Our entire leadership team understands the importance getting our culture and business improvements right.”
John Schnatter is well aware the difficulties Papa John’s faces. His take on the struggle is slightly egocentric, to say the least.
“History shows that the Company performs better with me involved, and it declines when I step away.”
Schnatter was previously banned from making statements about anything related to Papa John’s. Guess this ban was lifted. Or maybe the homie is trippin’. Either way, this debacle is definitely one for the books.