Papa John's
He'll do so by the company's annual meeting at the end of April as long as the company finds a mutually agreed upon independent director.
After more than a year of chaos, Papa John's has reached a truce with its founder and former CEO John Schnatter. In January, he claimed a victory when a court ordered the board to give him some internal documents, including text messages related to his firing, which Papa John's had until then refused to share.
Struggling pizza chain Papa John's worldwide has reached an agreement with ousted founder John Schnatter, who agreed to step down from the company's board in exchange for helping pick his replacement.
He also said the company has agreed to drop a requirement that Starboard Value vote its shares in favor of Papa John's own board nominees. The founder also agreed to dismiss a DE lawsuit related to his exit from the chairman's seat. He resigned as chairman of the company on July 11 after he admitted to using a racial slur during a company conference call in May.
In exchange, Schnatter said that Papa John's agreed to remove a provision from its poison pill forbidding shareholders from "acting in concert".
A week ago, the company said that because of "recent events" it had incurred special charges previous year of more than $90 million related to, among other items, "re-imaging costs at almost all domestic restaurants" as it removed Schnatter's image from the company's logo.
Avalanche, rockfall mitigation close several mountain highways for hours
The footage shows the wave of snow completely whiting the section of highway, covering Golemon's vehicle in an instant. Jacob Easton recorded the video about two miles before Copper Mountain.
He stepped down as the company's chief executive in December of 2017, after drawing criticism for comments he made against National Football League leadership. Schnatter said he reserves the right to file additional lawsuit if "those documents reveal additional wrongdoing".
In its deal with Starboard, Papa John's added three positions on its board, bringing total membership to nine.
FILE PHOTO: The Papa John's store in Westminster, Colorado, U.S. August 1, 2017.
Last week the pizza chain said its North American same-restaurant sales fell 7.3 percent in 2018 and that sales would lag into the first half of 2019.
Throughout the controversies, Papa John's shares and sales have continued to suffer, while the company has incurred significant costs.
Recommended News
-
06 March 2019Ghosn Lawyer Says He's Optimistic Former Nissan Head Could Soon Win Bail
Ghosn has offered to wear an electronic tether and hire security guards, but such methods are not used in Japan for bail. Nissan Motor Co. declined comment on the criminal case but said an internal investigation had found unethical conduct.
06 March 2019Counter terrorism investigation in London, UK, after explosives found
The packages were discovered at Waterloo Station, London City Airport and an office building in Heathrow Airport . London Mayor Sadiq Khan thanked first responders "for their swift actions to keep Londoners safe".
06 March 2019Charley Casserly: Cardinals shopping Josh Rosen
So not only do the Cardinals take Murray with the No. 1 pick, but they get another first rounder as well. Listen to the latest from Cards Wire's Jess Root on his podcast, Rise Up, See Red. -
06 March 20193 convicted in college basketball bribery scandal get prison sentences
The accused parties were said to have offered money to the parents of players so that they could go to the aforementioned schools. During the trial, testimony focused on KU coach Bill Self's relationship with government witness T.J.
06 March 2019Kelly free to roam the streets after being released from Chicago jail
In 2008, Kelly was acquitted on similar charges surrounding child pornography. He was ordered to return to court on March 22. The mystery woman who posted R.
06 March 2019Migrants storm UK-bound ferry at port of Calais
Migrants managed to board a ship at the port last night, with the police operation to track them down causing a delay to cross-Channel traffic. -
06 March 2019Successful docking for SpaceX Dragon capsule
SpaceX , founded by billionaire Elon Musk, has made the trip to the ISS a dozen times since 2012, but only to refuel the station. Both astronauts - Doug Hurley and Bob Behnken - were at SpaceX Mission Control in Southern California, observing all the action.
06 March 2019Katrina Kaif shares an endearing pic with Salman Khan post wrapping `Bharat` shoot
Meanwhile, as soon as Katrina posted the picture, the Internet started revisiting hers and Salman's rumoured romance. Salman, Katrina and Zafar's last collaboration, Tiger Zinda Hai, is one of the biggest hits of their careers.06 March 2019Royals gather to mark anniversary of investiture of Prince of Wales
Royal officials would determine whether the guidelines had been breached and anyone found to have done so would be blocked or have their comments hidden or deleted. -
06 March 2019Snoop Dogg hands back his private Lakers box
Snoop said "Ship all them n***as out". "Five dollars for the mother***ing booth to the Laker games". They f--g suck". "I'm selling my f-ing booth right now", he said. "This year, y'all can have it".
06 March 2019Spotify India garners 1 million unique listeners in less than a week
A million-plus addition to this figure within five days of launch in India will be welcome news to investors. The remaining 85 percent don't pay for music subscriptions, the Deloitte and IMI study says.
06 March 2019Quinnipiac Poll: Most Believe Trump Committed Crimes Before Taking Office
Eighty-six percent of Democrats chose Cohen - who is about to head to jail for lying to Congress. 35 percent say they shouldn't. Still, it seems these voters who think Trump has committed crimes aren't quite ready for impeachment yet.
/arc-anglerfish-arc2-prod-expressandstar-mna.s3.amazonaws.com/public/S5HE67VNZREGRP5NBEDYI3BMQQ.jpg)
/arc-anglerfish-tgam-prod-tgam.s3.amazonaws.com/public/UMND57FQURHDNFXCR6NQUZ6DLM.JPG)