A special committee of the Papa John's board of directors terminated Schnatter's "founder" agreement with the company and a sublease under which Schnatter rents office space at the company's headquarters in Jeffersontown, the company disclosed in a regulatory filing.
Additionally, the company has asked Schnatter to "cease all media appearances" and "not make any further statements to the media regarding the company, its business or employees".
John Schnatter clearly has a wish to end everything he has worded for up to this point, and it's taken just under a year for him to completely destroy his image.
Two current Louisville football players and one future Cardinal used their social media platforms to react to the recent news surrounding surrounding John Schnatter. It took until Friday morning for the pizza chain to remove him from its homepage, but a version of the logo with him in it still appears on other pages of the website. "I don't, and will not use that word and people at Papa John's don't use that".
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Schnatter also came under fire in 2012 for saying the Affordable Care Act could be "lose-lose" for Papa John's franchisees and employees.
The committee said it will oversee an outside auditor's investigation into Papa John's culture, including the company's existing processes, policies and systems related to diversity and inclusion.
I will personally be leading this effort because there is nothing more important for Papa John's right now.
Schnatter is Papa John's brand.
Earlier this afternoon UofL president Neeli Bendapudi said she hadn't reviewed changing the name of the stadium, but I'd say that will soon happen. The Associated Press first reported the news and a Papa John's spokesperson confirmed it to CNNMoney.