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Home / Business / Papa Johns wants to appoint Arby's President Lynch as CEO

Papa Johns wants to appoint Arby's President Lynch as CEO



Papa John's share lift among founder's resignation

32 Advisers CEO Robert Wolf on how Tesla CEO Elon Musk apologized for calling one of the men involved in the Thai cave save a "pedo." Wolf also discussed how Papa John's founder John Schnatter resigned after admitting to using the N-word in a conference call.

Papa John & # 39; s International is due to appoint a new CEO as early as Tuesday.

According to Lynberg, he is Rob Lynch, president of Arby's Restaurant Group.

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Lynch is expected to succeed Steve Ritchie in the position.

The name of a new CEO is one of the biggest moves made by shareholder Starboard Value.

Starboard Value has invested $ 250 million in the pizza company since February, at that time naming Jeffrey Smith as chairman.

Representatives of Papa John & # 39; s, Arby & # 39; s, and Starboard did not immediately respond to Bloomberg's request for comment.

Ticker Security Last Change % Chg [1
9659015] PZZA
PAPA JOHNS INTL 43.82 +0.76 + 1.76%

Lynch joined Arby & # 39; s 2013 as Marketing Manager.

His resume includes positions in Procter & Gamble and Yum! Brands & # 39; Taco Bell.

Papa John's founder John Schnatter agreed to resign earlier this year from the board and dismiss a lawsuit related to his resignation last year as chairman.

Public problems began in November 2017 when Schnatter ignored the advice of his board, and during a quarterly revenue call blamed the chain's declining sales growth on the National Football League's handling of players' national protests.

Schnatter agreed in December 2017 to resign as CEO because of the backlash. [19659004] CLICK HERE TO READ MORE ON FOX BUSINESS

The founder used a race tablet on a conference call, which he said was taken out of context.

Papa John's operates about 5,300 locations globally. [19659028]
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