The founder of Papa John’s, John Schnatter, will be stepping down as CEO from the company just two months after criticizing the NFL.
Schnatter made comments about how the NFL leadership handled national anthem protests by football players. According to Schnatter, it was the outcry over NFL anthem protesting that led to slower sales growth for the company. He also blamed that customers had a negative view of the company due to its association with the NFL. Papa Johns is an NFL sponsor as well as advertiser.
The founder of Papa John’s will be replaced by Chief Operating Officer Steve Ritchie on January 1st.
Schnatter will remain as chairman.
It has not been confirmed if Schnatter’s comments about the NFL led to the resignation.
Disclaimer: We have no position in Papa John’s Int’l, Inc. (NASDAQ: PZZA) and have not been compensated for this article.