August 02, 2018
  • Papa John's founder John Schnatter told CNBC he has "no confidence" in the company's current management team.
  • He said CEO Steve Ritchie was promoted too soon and was "drowning" a few months ago.
  • “I am principal shareholder, I’m the founder and I’m a director, so i have plenty of say of what goes on and what doesn’t go on,” Schnatter said.

Papa John's founder John Schnatter said he has "no confidence" in the current management team at the pizza chain, including the CEO he handpicked as his successor, after executives forced his ouster last month over some off-color remarks he made on a conference call.
In an interview with CNBC, Schnatter said he doesn't believe the current management team at Papa John's "has the capability to run the company."
"Franchisees don't believe in this leadership, don't believe in this management team and I don't believe this board has the oversight or the confidence to help steer the company in the right direction," he said.
Schnatter is locked in a bitter feud with the company he built into the nation's third-largest pizza chain, saying executives should reinstate him as CEO. Schnatter gave up his position in November after he provoked public outrage by blaming weak pizza sales on "poor leadership" by the NFL, which Papa John's sponsored, amid players kneeling during the national anthem. He then stepped down as chairman at the board's behest last month after Forbes reported, and Schnatter confirmed, that he said the N-word during a media training call with PR firm Laundry Service in May.
He now says the company mishandled the controversy over his comments and should have defended him to the public. His statements, he says, were taken out of context and weren't intended to be offensive.
Schnatter also said he promoted CEO Steve Ritchie, who took over in January, too quickly and Ritchie is in over his head.
"I like Steve as a person. I don't like, of course, the way he's gone about this. I think he's been harsh, I think he's been cruel," he said. "Throwing the founder on the street isn't healthy for anybody."
Schnatter said he told the board a few months ago that Ritchie was "drowning" and "needed help."
"One of my biggest limitations is that I have a tendency to over-promote, and I think that's what I did with Steve," Schnatter said of his protege.
The board of directors stripped Schnatter of his "Founders Agreement," removed him from all marketing material and prohibited him from using corporate offices at the company's Louisville, Kentucky, headquarters after he gave an interview July 13 to a local TV station claiming Laundry Service tried to extort $6 million from Papa John's. They also enacted a poison pill provision intended to keep Schnatter from amassing more control over the company by increasing his 30 percent stake.
Last week, Schnatter sued his pizza chain, seeking documents related to his ouster as chairman and accusing the board of acting negligently or staging a possible coup. Schnatter's lawyer said that he still hasn't received any of the materials he requested, save for a letter saying the company would provide board meeting minutes.
Schnatter has retained his seat on the board and doesn't intend to give it up anytime soon, despite rumors that directors may try to have him voted out.
"I am principal shareholder, I'm the founder and I'm a director, so I have plenty of say in what goes on and what doesn't go on," Schnatter said.
Papa John's didn't immediately respond to a request for comment.
Latest News
Top news around the world
Coronavirus Disease

Coronavirus disease (COVID-19) is an infectious disease caused by a newly discovered coronavirus.

Most people infected with the COVID-19 virus will experience mild to moderate respiratory illness and recover without requiring special treatment. Older people, and those with underlying medical problems like cardiovascular disease, diabetes, chronic respiratory disease, and cancer are more likely to develop serious illness.

Around the World

Celebrity News

> Latest News in Media

Watch It
Julia Fox defends viral ‘Uncut Gems’ interview moment: ‘I was stoned’ | Page Six Celebrity News
February 17, 2022
4m-p0_-ePd8
Alexia Echevarria pushed ‘RHOM’ producers to show more of son Frankie’s recovery | Page Six
February 17, 2022
E-wTaN9NfkI
Pete Davidson rejoins Instagram amid Kanye West drama | Page Six Celebrity News
February 17, 2022
SsC3dmsI6t4
Aaron Rodgers And Shailene Woodley Reportedly Break Up | TMZ LIVE
February 17, 2022
FoErdRE8Qe4
Chet Hanks Done Talking About Famous Parents, Becoming Personal Trainer | TMZ
February 16, 2022
5_UrULOkQ6o
Woman Stabbed at Foot Locker During Nike Shoe Release
February 16, 2022
TfuXMs1JdVg
Steph's Freaky Side, "Summer House" & "Love During Lockup"
February 17, 2022
9W_raO0zlA8
Tay or Nay, Offset's Sushi Anxiety & Nick on Monogamy
February 17, 2022
PauYHpJRA6o
Kim Kardashian & North West TWINNING in Matching Pajamas | E! News
February 17, 2022
b-_Oib6R108
Adam McKay - Hollywood Walk of Fame Ceremony
February 17, 2022
tYtzsHoOZzo
Tom Holland, Mark Wahlberg, and the Cast of 'Uncharted' Talk Most Challenging Stunts
February 15, 2022
d3ksX-SKi8c
Ryan Reynolds and Walker Scobell on ‘The Adam Project’, ‘Deadpool’, and Possible ‘Star Wars’ Role
February 16, 2022
5TxJsbJr9Dk
TV Schedule
Late Night Show
Watch the latest shows of U.S. top comedians

Sports

Latest sport results, news, videos, interviews and comments
Latest Events
04
May
CONCACAF CHAMPIONS LEAGUE: Playoffs
Seattle Sounders - Pumas
04
May
USA: Major League Soccer
FC Cincinnati - Toronto FC
03
May
ENGLAND: Championship
Bournemouth - Nottingham Forest
02
May
ENGLAND: Premier League
Manchester United - Brentford
02
May
ENGLAND: Championship
Fulham - Luton
02
May
SPAIN: La Liga
Getafe - Real Betis
02
May
GERMANY: Bundesliga
Bayer Leverkusen - Eintracht Frankfurt
02
May
GERMANY: Bundesliga
Borussia Monchengladbach - RB Leipzig
02
May
ITALY: Serie A
Atalanta - Salernitana
01
May
ENGLAND: Premier League
Tottenham Hotspur - Leicester City
01
May
SPAIN: La Liga
Barcelona - Mallorca
01
May
ITALY: Serie A
Roma - Bologna
01
May
ENGLAND: Premier League
West Ham United - Arsenal
01
May
ENGLAND: Premier League
Everton - Chelsea
01
May
ITALY: Serie A
Udinese - Inter Milan
01
May
ITALY: Serie A
AC Milan - Fiorentina
01
May
ITALY: Serie A
Juventus - Venezia
01
May
SPAIN: La Liga
Rayo Vallecano - Real Sociedad
30
Apr
GERMANY: Bundesliga
Mainz - Bayern Munich
30
Apr
GERMANY: Bundesliga
Borussia Dortmund - Bochum
30
Apr
ENGLAND: Premier League
Newcastle United - Liverpool
30
Apr
SPAIN: La Liga
Athletic Bilbao - Atletico Madrid
30
Apr
ENGLAND: Premier League
Leeds - Manchester City
30
Apr
SPAIN: La Liga
Real Madrid - Espanyol
30
Apr
ITALY: Serie A
Napoli - Sassuolo
28
Apr
ENGLAND: Premier League
Manchester United - Chelsea
27
Apr
CHAMPIONS LEAGUE: Semifinal
Liverpool - Villarreal
27
Apr
ITALY: Serie A
Bologna - Inter Milan
26
Apr
CHAMPIONS LEAGUE: Semifinal
Manchester City - Real Madrid
25
Apr
ITALY: Serie A
Sassuolo - Juventus
24
Apr
SPAIN: La Liga
Barcelona - Rayo Vallecano
24
Apr
ITALY: Serie A
Lazio - AC Milan
24
Apr
ENGLAND: Premier League
Liverpool - Everton
24
Apr
ENGLAND: Premier League
Chelsea - West Ham United
24
Apr
ITALY: Serie A
Empoli - Napoli
23
Apr
ENGLAND: Premier League
Brentford - Tottenham Hotspur
Find us on Instagram
at @feedimo to stay up to date with the latest.
Featured Video You Might Like
zWJ3MxW_HWA L1eLanNeZKg i1XRgbyUtOo -g9Qziqbif8 0vmRhiLHE2U JFCZUoa6MYE UfN5PCF5EUo 2PV55f3-UAg W3y9zuI_F64 -7qCxIccihU pQ9gcOoH9R8 g5MRDEXRk4k
Copyright © 2020 Feedimo. All Rights Reserved.