Papa John’s Announces Departure of Chief Financial Officer
17 January 2018 - 8:30AM
Business Wire
Papa John's International, Inc. (NASDAQ: PZZA), the world's
third-largest pizza delivery company (the “Company”), today
announced that Chief Financial Officer and Chief Administrative
Officer Lance Tucker is departing the Company effective March 2,
2018, to assume the role of chief financial officer at Jack in the
Box Inc. The Company will immediately commence a search, to include
internal and external candidates, for a Chief Financial
Officer.
“Lance has been a critical member of our executive leadership
team. He has also been instrumental in developing an already strong
and deep finance department. I appreciate all his contributions
during his many years with the Company and wish him the best in his
new role,” said Steve Ritchie, the Company’s President and
CEO.
About Papa John’s
Headquartered in Louisville, Kentucky, Papa John's
International, Inc. (NASDAQ: PZZA) is the world's third-largest
pizza delivery company. For 16 of the past 18 years, consumers have
rated Papa John's No. 1 in customer satisfaction among all national
pizza chains in the American Customer Satisfaction Index (ACSI).
For more information about the company or to order pizza online,
visit Papa John's at www.papajohns.com.
Forward-Looking Statements
Certain matters discussed in this press release constitute
forward-looking statements within the meaning of the federal
securities laws. Generally, the use of words such as "expect,"
"intend," "estimate," "believe," "anticipate," "will," "forecast,"
"plan," "project," or similar words identify forward-looking
statements that we intend to be included within the safe harbor
protections provided by the federal securities laws. Such
forward-looking statements may relate to projections or predictions
concerning business performance, future strategy and prospects, the
performance of the Papa John's brand, customer experience, as well
as business and financial performance, including revenue, earnings,
cash flow, and other financial and operational measures. Such
statements are not guarantees of future performance and involve
certain risks, uncertainties and assumptions, which are difficult
to predict and many of which are beyond our control. Therefore,
actual outcomes and our results may differ materially from those
matters expressed or implied in such forward-looking statements.
The risks, uncertainties and assumptions that are involved in our
forward-looking statements include, but are not limited to: the
successful navigation of the brand's marketing and digital
evolution, the performance of our new senior leadership, our
ability to identify and hire a permanent CFO to succeed Mr. Tucker
on a timely basis, our ability manage the finance and accounting
function during the transition, aggressive changes in pricing or
other marketing or promotional strategies by competitors, which may
adversely affect sales and profitability; and new product and
concept developments by food industry competitors; changes in
consumer preferences or consumer buying habits, including changes
in general economic conditions or other factors that may affect
consumer confidence and discretionary spending; changes in our
liquidity or changes in the debt markets in general, including
adverse changes in interest rates, and our ability to meet debt
service requirements; the adverse impact on the company or our
results caused by product recalls, food quality or safety issues,
incidences of foodborne illness, food contamination and other
general public health concerns about our company-owned or
franchised restaurants or others in the restaurant industry;
failure to maintain our brand strength, quality reputation and
consumer enthusiasm for our better ingredients marketing and
advertising strategy; the ability of the company and its
franchisees to meet planned growth targets and operate new and
existing restaurants profitably, including difficulties finding
qualified franchisees, store level employees or suitable sites;
increases in food costs or sustained higher other operating costs.
This could include increased employee compensation, benefits,
insurance, tax rates, new regulatory requirements or increasing
compliance costs; increases in insurance claims and related costs
for programs funded by the company up to certain retention limits,
including medical, owned and non-owned automobiles, workers'
compensation, general liability and property; disruption of our
supply chain or commissary operations which could be caused by our
sole source of supply of cheese or limited source of suppliers for
other key ingredients or more generally due to weather, natural
disasters including drought, disease, or geopolitical or other
disruptions beyond our control; increased risks associated with our
international operations, including economic and political
conditions, instability or uncertainty in our international
markets, especially emerging markets, fluctuations in currency
exchange rates, difficulty in meeting planned sales targets and new
store growth; the impact of current or future claims and
litigation, including labor and employment-related claims; current,
proposed or future legislation that could impact our business;
failure to effectively execute succession planning; disruption of
critical business or information technology systems, or those of
our suppliers, and risks associated with systems failures and data
privacy and security breaches, including theft of confidential
company, employee and customer information, including payment
cards. These and other risk factors are discussed in detail in
"Part I. Item 1A. - Risk Factors" in our Annual Report on Form 10-K
for the fiscal year ended December 25, 2016. We undertake no
obligation to update publicly any forward-looking statements,
whether as a result of future events, new information or otherwise,
except as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20180116006750/en/
Papa John’s International, Inc.Peter Collins, 502-261-4233Senior
Director, Public Relationspeter_collins@papajohns.com
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