News

Will John Schnatter sell his stake in Papa John's?

May 7, 2019

After stepping down from Papa John's board in March, Founder John Schnatter  may step away from the brand entirely, according to a Reuters report. 

The news service said a regulatory filing this week reported that Schnatter was consulting financial experts about possibly selling his 31% stake in the company.

Schnatter relinquished his board seat after he and the chain's leadership settled a dispute over control of the chain, which suffered sales and stock value losses after news publicized that Schnatter had allegedly made a racial slur during a phoned media training session. 

Papa John's spokeswoman Lindsay English told Pizza Marketplace that the brand did not have any comment about the news.