Papa John's stock price founder chairman ceo racist

Papa John’s founder and executive chairman John Schnatter resigned Wednesday following a public apology for using a racial slur on a conference call in May.
The pizza stock surged more than 5% in early trading Thursday, erasing some of its heavy losses from Wednesday.
Follow Papa John’s stock price in real-time here.

Shares of Papa John’s were up more than 5% in early trading Wednesday following the resignation of founder and executive chairman John Schnatter, who on Wednesday apologized for using a racial slur on a May conference call with company executives and an outside marketing agency.

“News reports attributing the use of inappropriate and hurtful language to me during a media training session regarding race are true,” Schnatter said in a statement to Business Insider, alluding to Forbes’ first reporting of the incident. “Regardless of the context, I apologize. Simply stated, racism has no place in our society.”

The Louisville, Kentucky-based pizza chain said in a press release that it would announce a new chairman in the coming weeks.

“Our company was built on a foundation of mutual respect and acceptance,” the company’s apology said. “We take great pride in the diversity of the Papa John’s …read more

Source:: Businessinsider – Finance


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