Papa John's Founder John Schnatter Resigned As Chairman of The Board

PZZA data by YCharts

PZZA data by YCharts

Papa John's founder John Schnatter is no longer board chairman after using a racial slur, but his image is still part of the pizza chain's logo and he remains the company's largest shareholder.

So, if players - and a growing segment of the fan base - get their wish and the name of the stadium is changed, what should it be moving forward? The University of Louisville said it will remove the Papa John's name from its football stadium, and that it will rename the John H. Schnatter Center for Free Enterprise at its business college.

Louisville native and commit Aidan Robbins feels the same.

The university's president, Neeli Bendapudi, said she informed both Schnatter, 56, and Papa John's worldwide of the unilateral decision to end their relationship.

Unfortunately, Schnatter's deal with UofL is a little more complicated than most realized.

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Schnatter used the N-word on a company conference call this spring during a training exercise discussing racial issues.

The situation illustrates the difficulty when companies are closely tied to a single person, and that Papa John's may need to publicly distance itself further from Schnatter after dealing with backlashes brought about by his comments.

Schnatter's face was off some materials by Friday, though the pizza chain said there are no plans to change its name.

Schnatter, a Trump donor, who has resigned from three high ranking positions in the past six months as a result of racist remarks, on Wednesday admitted to using the slur during a conference call in May. The training call was in regards to his comments on the National Football League's leadership over the national anthem protests by players.

"I said it, and it's wrong", he said.

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You won't be able to buy Papa John's pizza at Target Field starting tonight.

Papa John's stock is up almost 3% Friday on the news. Since then, the fallout has been swift: Schnatter resigned from the school's board of trustees and as Papa John's chairman.

Schnatter submitted his resignation Wednesday as a member of the university's board of trustees after Louisville National Association for the Advancement of Colored People (NAACP) called for Schnatter to either step down or be removed from the board, according to the Courier-Journal.

Papa John's International Inc. began operations in 1984 and had more than 5,200 locations globally.

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