Published: Thu, July 12, 2018
People | By Leon Thompson

Papa John's Founder Schnatter Resigns as Chairman After Using Racial Slur

Papa John's Founder Schnatter Resigns as Chairman After Using Racial Slur

During that call, Schnatter complained that Colonel Sanders, the founder of the Kentucky Fried Chicken chain, never received criticism for his racist remarks.

The resignation comes after Forbes reported earlier in the day that Schnatter used a racial slur on a conference call.

"Regardless of the context, I apologize", he said, according to CNBC.

Schnatter apologised past year for remarks he made when he criticised the NFL for its handling of players' national-anthem protests, saying the comments hurt the pizza chain's sales.

Schnatter also resigned Wednesday from the University of Louisville board of trustees. Back in November, Schnatter got involved in the NFL's national anthem debate - implying that the uproar had affected his company's sales.

Shares of Papa John's fell by as much as 5.9 percent to a new 12-month low of $47.80 a share in intraday trading Wednesday - erasing $96.2 million in market value.

To Moore, removing the name was the right thing to do after Schnatter admitted Wednesday to having made offensive remarks, including use of the n-word.

Major League Baseball has reportedly suspended its grand slam promotion with Papa John's in response to a controversy involving its founder.

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In a statement on Wednesday, the company said it condemned "racism and any insensitive language".

Following the incident, Laundry Service said it held a call with the client's chief executive officer to discuss winding down the media agency's work with the company.

The issue started when founder John Schnatter suddenly and inexplicably blamed the NFL and kneeling football players for his company's decline in pizza sales.

According to an article from Forbes, John Schnatter allegedly used the "N-word" while speaking with marketing agency Laundry Service.

Forbes reported that the incident occurred during a call between Schnatter, other Papa John's executives and the marketing agency Laundry Service.

Schnatter remains prominently linked to the school through Papa John's Cardinal Stadium.

Schnatter also reportedly discussed his early life in IN, telling those on the conference call that "people used to drag African-Americans from trucks until they died".

Recently, Schnatter had questioned the leadership of Louisville's athletic department and the integrity of former basketball coach Rick Pitino.

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