Papa John's says founder resigned as chairman of the board

Posted: Updated:
NEW YORK -

(AP) - Papa John's founder John Schnatter has resigned as chairman of the board.

The company made the announcement late Wednesday, hours after Schnatter apologized for using a racial slur during a conference call in May.

Forbes said Schnatter used the N-word during a media training exercise. When asked how he would distance himself from racist groups, Schnatter reportedly complained that Colonel Sanders never faced a backlash for using the word.

In a statement released by Louisville, Kentucky-based Papa John's, Schnatter said reports attributing use of "inappropriate and hurtful" language to him were true.

"Regardless of the context, I apologize," the statement says.

The University of Louisville also said Wednesday that Schnatter resigned from its board of trustees, effective immediately.

Schnatter stepped down as CEO last year after blaming slowing sales growth on the outcry surrounding football players kneeling during the national anthem. He remains chairman of the company he started when he turned a broom closet at his father's bar into a pizza spot.

Papa John's shares fell nearly 5 percent Wednesday after the report, closing at $48.33.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • New Jersey SlideshowsSlideshowsMore>>

  • Behind the Scenes of Disney On Ice

    Behind the Scenes of Disney On Ice

    Behind the Scenes: Disney on IceBehind the Scenes: Disney on Ice

    Take a sneak peak behind the scenes of Disney on Ice! The show made a stop at the Nassau Coliseum.

    Take a sneak peak behind the scenes of Disney on Ice! The show made a stop at the Nassau Coliseum.

  • The 'worst toys' for the holidays, according to safety group

    The 'worst toys' for the holidays, according to safety group

    Tuesday, November 13 2018 6:35 PM EST2018-11-13 23:35:07 GMT

    A Black Panther “slash claw” and a plastic Power Rangers sword are among the items topping a consumer safety group’s annual list of worst toys for the holiday season.

    A Black Panther “slash claw” and a plastic Power Rangers sword are among the items topping a consumer safety group’s annual list of worst toys for the holiday season.

  • Just Married in New Jersey

    Just Married in New Jersey

    News 12 New Jersey wants to announce your wedding.News 12 New Jersey wants to announce your wedding.

    News 12 New Jersey wants to announce your wedding. If you were married in the past 90 days, please submit your photos via Twitter or Instagram using #JustMarriedNJ.  

    News 12 New Jersey wants to announce your wedding. If you were married in the past 90 days, please submit your photos via Twitter or Instagram using #JustMarriedNJ.  

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."