Posted on 07/18/2018 9:28:39 PM PDT by 2ndDivisionVet
The founder of Papa John's said he made “a mistake” when he agreed to step down as chairman of the company’s board last week amid “mischaracterized” reports about his use of a racial slur earlier this year.
In a letter addressed to members of the company's board, pizza chain founder John Schnatter said board members pressured him to resign without "any investigation" and based its decision on “rumor and innuendo.”
“The board asked me to step down as chairman without apparently doing any investigation. I agreed, though today I believe it was a mistake to do so,” Schnatter said, according to a copy of the letter obtained by ABC News on Tuesday. “I have checked with corporate governance experts who tell me that this was not a proper action by the board.”
Patty Glaser, an attorney representing Schlatter to the board, wrote in a separate letter on July 15 that the “board had no authority to remove Mr. Schnatter as a director” and called for “an independent investigation and fully inform itself as to what actually occurred.”
Glaser warns that “the failure to conduct a complete and independent investigation” would render “individual Board members liable for all resulting harm to the Company and to Mr. Schnatter.”
Schnatter faced fierce backlash last week after Forbes reported that he used the N-word during a May conference call while discussing the national anthem protests in the NFL....
(Excerpt) Read more at yahoo.com ...
Maybe he should get of the board, sell his stock, and start a new pizza company.
Sounds like the, “Board” was looking for an opportunity to get rid of Schnatter. It seems they jumped too fast.
I understand that he owns 30% of the company.
He might own more than that in the end. If this is true, the Board was operating outside their authority.
Yes, he agreed with President Trump about the kneeling protests in the NFL.
John should have called me before making the decision. I would have told him the same thing, free of charge.
LOL
Duuuuuuuuuh!
Why does this stuff happen so quickly? Usually there is an investigation.
Dang John.
It was your baby and you gave it up for adoption to the Social Justice Warriors who are going to club it like a baby seal...
They’ll probably rename it LGBTQI Pizza.
The King slipped up and there was a palace coup.
I figured it was a simple, honest mistake that was pounced upon by the second-handers who then stampeded him out.
Never give in to Outraged Inc.! We all know it is hard to be targeted by them but it is most important to stand strong when they do. They are bullies and hope you just give in and do not fight back.
Instead, punch back twice as hard.
JoMa
Mr. Schnatter is a big boy who folded under pressure, twice. First when he resigned as CEO, then resigning as Chairman. Now he regrets it.
He should have held firm and demanded an impartial investigation before resigning, allowing time for facts to come out and passions to cool. Instead he folded and resigned (effectively acknowledging “guilt”) and ceded the ground to the board. He’ll have a steep uphill fight to regain any position with the company.
Sucks to be him.
This stuff happens quickly because instead of dealing with facts, there is a tsunami of emotional reaction that overwhelms the issue.
Most organizations think that the proper reaction is to act instead of think. The course of least resistance is to give in to the mob.
How did he get to lead a company yet be so stupid as to step down so quickly due to a little pressure which only now he thinks to question or look into considering was it valid?
“start a new pizza company.”
There’s probably some non-compete clause somewhere in his paperwork. I was hoping he’d lawyer up and reverse the situation. Take it to a jury. People are getting so sick and tired of the PC freaks, there’s a good chance he would win.
Always be skeptical of the PREMISE, from especially Liberals.
The first sentence out of a Liberal’s mouth, is the Premise, which is a lie.
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