Franchise News

John Schnatter Confronts Papa John’s Board About ‘Poison Pill’
The founder is demanding the board removes a provision he says limits his rights as a shareholder.

Franchise News

The founder is demanding the board removes a provision he says limits his rights as a shareholder.

Every time Papa John’s makes progress in separating itself from its founder, John Schnatter comes roaring back. As the company explores a sale, Schnatter has called on Papa John’s board of directors to remove a provision included in the ‘poison pill’ it adopted in July to keep Schnatter from acquiring more equity, according to a CNBC article.
Schnatter, who remains Papa John’s majority shareholder, is demanding the board amend a so-called ‘wolf pack’ provision, which CNBC explained exists to prevent a dominant investor from teaming up with other investors to regain control of the company.
Schnatter claims third parties have expressed interest in speaking with him but the provision keeps him from discussing the company, his investment or investors’ plans for the company, effectively restricting his rights as a shareholder.
Read the full story here.
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Maddie has spent her career in the media industry, serving in various editorial roles before migrating into a hybrid content strategy and PR role with No Limit Agency. Her passion for storytelling and love of writing help her create meaningful content on behalf of her clients and fulfill No Limit Agency’s mission to tell people-driven stories.
Maddie is a graduate of Saint Louis University, where she studied Communications with a focus in journalism and media studies as well as Sports Business. In her spare time, Maddie can be found exploring Chicago’s food scene, watching an NBA game or lamenting over her middling fantasy baseball team.