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(Reuters) – Papa John International Inc.'s founder, John Schnatter, is in talks with financial advisers for a possible sale of his stake in the company, a regulatory filing announced Monday.
Schnatter, which holds about 31 percent of Papa John's capital, resigned from its board of directors last month as part of a settlement that resolved a bitter dispute over third-party control. great chain of pizzas in the world.
The company is striving to correct its brand image after Schnatter allegedly used a racial insult during a media training teleconference last year.
As part of the recovery, Papa John's named former basketball star Shaquille O'Neal to the board of directors, brand ambassador and investor in March.
(Report by Uday Sampath in Bengaluru, edited by Shinjini Ganguli)
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