Papa John's Founder Steps Into New Role
(Tuesday, May 15, 2007) - John Schnatter, founder of Papa John's International Inc., has voluntarily switched his role with the company, stepping back from executive chairman to the title of non-employee, founder chairman. He will serve without cash compensation, instead receiving only company stock options.
Schnatter will continue in his role of advertising and brand spokesman for the world's third largest pizza company, in addition to chairing the company's board of directors.
Schnatter started Papa John's in the back of his father's Jeffersonville, Ind., tavern in 1984 with $1,600 in used restaurant equipment. Today, Papa John's consists of more than 3,000 restaurants in 50 states and 29 countries.
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