ZitatPapa John’s founder John Schnatter says his decision to sell a big slice of the pizza chain’s stock was simple.
“My decisions are made strictly as an outside investor,” Schnatter, who has given up the roles of chairman and CEO, told FOX Business in an exclusive interview. “And in this case, it's really simple. Arithmetic is not an opinion.”
On Nov. 1, Schnatter sold 1.9 million shares worth about $107.5 million, according to a Securities and Exchange Commission filing this week. He still owns 2.9 million shares, valued at more than $166 million, or roughly 9.2 percent of the company. ......
Schnatter says the company has struggled following his departure because it “abandoned its fundamental principles" of transparency, integrity, mutual respect and quality.
The thing that concerns him the most is the financial health of the store managers and franchisees, whom he says are hurting because “unit economics are not good.”...
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