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 ...
This is why I love Trump.
The Premise is a lie. Trump does not back down.
Republicans cower.
Trump hits back, immediately. Winners hit back.
“Never apologize son, it’s a sign of weakness....”
I don’t understand these people that allow their own corporation to be set up in a way that they themselves can be ousted. Have they never watched a movie where there’s a “hostile takeover”?
Should have grown the company a little slower and kept themselves as 51% owner. Even then, it can happen but there’s much less chance.
Oh well. At least he’s got his 71 Camaro.
Kinda late now isn’t it
He let liberals drive him out of his own company.
They should have fired him last year for mishandling the NFL situation to the point where both the right and left wound up boycotting. Change the cause, keep the termination.
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