Due to Shaquille O'Neal's Business Commitments, Papa Johns Announces He Will Not Seek 2024 Board Re-Election
O'Neal will Maintain his Broader Relationship with the Company as a Restaurant Owner and Brand Ambassador
On February 22, 2024, Shaquille O'Neal informed the Board of Directors (the "Board") of Papa John's International, Inc. (NASDAQ:PZZA) ("Papa Johns" or "Company") of his decision not to stand for re-election as a director at the Company's 2024 annual meeting of stockholders. His current term expires at the annual meeting on May 2, 2024.
"Shaquille joined the Board five years ago during a challenging time for the Company, providing an important vote of confidence in its future potential, management team and board of directors," said Christopher Coleman, Chairman of the Papa Johns Board of Directors. "We appreciate his many contributions during his tenure."
Rob Lynch, President and CEO of Papa Johns added, "I would like to thank Shaquille for his service to the Board. When I met with Shaquille during my interview process for the Papa Johns CEO position, his passion for creating positive change in the company was a big selling point for me. I'm grateful for the positive impact he's had on our culture and the unique perspectives he's provided on creating deep connections with consumers. Today, Papa Johns is in a much different place thanks, in part, to Shaquille's involvement with the brand. We are supportive of his professional growth through his other business ventures and look forward to continuing to work with him through our marketing partnership and as a franchisee."
Although Mr. O'Neal is increasing the time he's investing in new business ventures, he will continue to serve as an important partner to Papa Johns as a brand ambassador and through his investment in nine Papa Johns restaurants in the Atlanta, Georgia area.
"While my other business commitments make it challenging to extend my board service for another term, I am looking forward to continuing my partnership with Papa Johns, a brand I've loved since my days playing basketball at LSU," said Mr. O'Neal. "I am grateful for the valuable experience I gained on the Papa Johns Board and am proud to have played a role in making the company culture into what it is today, including being recognized as a best employer for diversity three years in a row. The company has experienced significant growth over the past five years and has a great future ahead."
Over the last seven months, Papa Johns has announced the appointment of three new members to its Board of Directors. The Company regularly reviews its board membership as a part of a proactive planning process and evaluates the need for new board members based on valuable skills, expertise and in support of its focus on board diversity. The Company has not made any determinations regarding additional appointments at this time.
About Papa Johns
Papa John's International, Inc. (NASDAQ:PZZA) opened its doors in 1984 with one goal in mind: BETTER INGREDIENTS. BETTER PIZZA.® Papa Johns believes that using high-quality ingredients leads to superior quality pizzas. Its original dough is made of only six ingredients and is fresh, never frozen. Papa Johns tops its pizzas with real cheese made from mozzarella, pizza sauce made with vine-ripened tomatoes that go from vine to can in the same day and meat free of fillers. It was the first national pizza delivery chain to announce the removal of artificial flavors and synthetic colors from its entire food menu. Papa Johns is co-headquartered in Atlanta, Ga. and Louisville, Ky. and is the world's third-largest pizza delivery company with more than 5,900 restaurants in 50 countries and territories. For more information about the company or to order pizza online, visit www.PapaJohns.com or download the Papa Johns mobile app for iOS or Android.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240228359858/en/