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Papa John's Founder Said to Mount Campaign to Defend Board Seat

  • Schnatter resigned as chairman after reports of racial slur
  • Chain distancing itself from founder, who holds a 29% stake
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Papa John’s Board Said to Plan to Discuss 'Poison Pill': WSJ
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Papa John’s International Inc.’s embattled founder John Schnatter plans to reach out to shareholders to rally support as he tries to avoid being banished from the company’s board, according to a person familiar with the matter.

Schnatter, who resigned as chairman recently after coming under fire for using a racial slur, wants to help map the pizza chain’s comeback from a sales slump and is determined to hold onto his board seat even as the company tries to distance itself from its controversial founder, according to the person who asked not to be identified because the plans are private.