Papa John’s founder explores pizza chain stake sale

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New Delhi | Published: May 7, 2019 4:45:24 AM

Papa John International Inc's founder John Schnatter is in talks with financial advisers for a possible sale of his stake in the company, a regulatory filing showed on Monday.

Papa John founder, papa john pizza chain, papa john shares, papa papa john shares sale (Reuters)

Papa John International Inc’s founder John Schnatter is in talks with financial advisers for a possible sale of his stake in the company, a regulatory filing showed on Monday.

Schnatter, who owns about 31 percent of Papa John’s, stepped down from the company’s board last month, as part of a settlement resolving a bitter dispute for control of the world’s third-largest pizza chain.

The company has been working to fix its brand image after Schnatter reportedly used a racial slur on a media training conference call last year.

As part of the recovery, Papa John’s named former basketball star Shaquille O’Neal as a board member, brand ambassador and investor in March.

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