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Papa John's International, Inc. stock price
Papa John's International, Inc. latest news:
Papa John's CFO to leave for same role at Jack in the Box
Papa John's International Inc(PZZA) said on Tuesday Chief Financial Officer Lance Tucker would leave the pizza chain operator in March to take up the same position at restaurant chain operator Jack in the Box Inc. Tucker's exit marks the second high profile departure at Papa John's (PZZA) in less than a month after founder John Schnatter stepped down as chief executive last December following criticism on h...
Papa John's CFO departs for Jack in the Box
Papa John's International Inc. Chief Financial Officer Lance Tucker is leaving the company March 2, to take the CFO job at Jack in the Box Inc. , Papa John's said late Tuesday. Papa John's stock was down 3.3% to $58.45 after hours. Tucker's exit follows former Chief Executive John Schnatter's decision to resign the top boss position as of Jan. 1. Papa John's president Steve Ritchie replaced Schnatter in the CEO spot. Papa John's stock has lost 29% in the past 12 months, as the S&P 500 index rose 23%.
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Papa's John's CEO resignation indicates Q4 has been 'rough'
Instinet analysts led by Mark Kalinowski say Papa John's International Inc.'s announcement that Chief Executive John Schnatter will step down from his position shows that the fourth-quarter has been a "rough" one for the company following comments Schnatter made blaming the NFL for poor sales. Instinet cut its price target to $58 from $65, though it maintains its neutral rating, and lowered their fourth-quarter earnings per share estimate to 69 cents from 71 cents. "Given the weakened momentum in the business, and also given what we believe is a better understanding of 2018 as a year of investment for the company, we also reduce our 2018 EPS projection by 25 cents to $2.75," analysts wrote. Chief Operating Officer Steve Ritchie will succeed Schnatter, who will stay on as chairman. The company hasn't decided whether Schnatter will also continue as the company spokesperson, according to a statement from Ritchie. The company is expected to announce fourth-quarter earnings on Feb. 27. Papa John's shares are down 32.2% for the past year while the S&P 500 index is up 18.7% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Papa John's founder Schnatter to step down as CEO
(Reuters) - Papa John's International founder John Schnatter will step down as chief executive by the year-end, the pizza chain operator said on Thursday, weeks after his comments on the NFL leadership drew criticism.
Papa John's founder to step down as chief executive
Papa John's International Inc. founder John Schnatter is stepping down as chief executive, according to a report late Thursday on The Wall Street Journal. The pizza chain also announced late Thursday that Steve Ritchie, a former franchisee and chief operating officer, will take over as CEO on Jan. 1, mentioning only that Schnatter would "continue to champion" the company's principles in his duties as chairman and founder. Schnatter will also "pursue his personal passion for entrepreneurship, leadership development and education," according to the company's statement. Last month, Papa John's apologized for Schnatter's comments during an earnings call earlier in November blaming poor sales on NFL player protests. Shares of Papa John's ended the regular trading day down less than 0.1%. The stock is down 31% this year, versus gains of 20% for the S&P 500 index. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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