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John Schnatter, better known as Papa John, is the American entrepreneur who founded Papa John’s International.
In October of 2017, Schnatter publicly criticized the NFL over the national anthem protests being carried out by players.
On December 21, 2017, Schnatter announced he will step down from his position as CEO on January 1, 2018. The move comes two months after he publicly criticized NFL leadership over national anthem protests by NFL players. He will be succeeded by COO Steve Ritchie.
John Schnatter Net Worth 2018: $75 Million
John Schnatter, the founder and CEO of Papa John’s, has a reported net worth of approximately $75 million.
Life & Career
Schnatter was born in Jeffersonville, Indiana, where he graduated from Jeffersonville High School in 1980 before earning a business degree from Ball State University in 1983.
In 1983, Schnatter sold his Chevy Camaro to help his father’s struggling business and used the leftover profits to start Papa John’s. His pizza was so popular that he was able to move into an adjoining space.
In October 2017, during a conference call with Papa John’s investors, Schnatter blamed the NFL nation anthem protests for the company’s for financial performance, reportedly saying “The NFL has hurt us. We are disappointed the NFL and its leadership did not resolve this,” referring to the U.S. national anthem protests.
On December 21, 2017, Papa John’s announced that Schnatter would be stepping down as Chief Executive Officer and would be replaced by Chief Operating Office Steve Richie. Schnatter, who is the company’s biggest shareholder, will remain chairman of the board.
Today, Papa John’s is the third largest take-out and pizza delivery restaurant chain in the world. Its headquarters is in Jeffersontown, Kentucky, which is a suburb of Louisville. The company generates approximately $1.4 billion in revenue per year. Papa John’s has over 4,700 establishments, with 3,500 in the U.S. and over 1,200 spread amongst 37 other countries and territories.
