Papa John’s Stock Plummets After Report That Founder Used N-Word
Papa John’s stock has plummeted more than 4 percent on Wednesday following a report that the founder and chairman John Schnatter allegedly made racist comments during a May conference call.
According to the NY POST, the owner, who had to step down as chief back in January for his comments about football players taking a knee during the national anthem, allegedly said “Colonel Sanders called blacks n—–s” and never faced any scrutiny.
Schnatter allegedly also looked back on his childhood in Indiana, where he allegedly said on the conference call that “people used to drag African-Americans from trucks until they died,” Apparently he made these remarks to show his dislike for racism.
Representatives of the marketing firm, Laundry Service, declined to comment on the incident. However, the owner Casey Wasserman canceled the company’s contract with Papa John’s.
The pizza chain issued a statement without confirming or denying the incident.
“Papa John’s condemns racism and any insensitive language, no matter the situation or setting. Diversity is an essential ingredient in our pursuit of providing a better product and better service to our customers and to the communities where we operate and live. We take great pride in the diversity of the Papa John’s family, though diversity and inclusion is an area where we will continue to strive to do better.”
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