ATLANTA - Shaquille O'Neal will not seek re-election to the board of directors for Papa John's International, Inc. (NASDAQ: NASDAQ:PZZA), the company announced on February 22, 2024. O'Neal's current term is set to end at the annual stockholders' meeting on May 2, 2024.
While stepping down from the board, he will maintain his ties with the pizza chain as a brand ambassador and franchise owner.
O'Neal joined the board five years ago during a period of uncertainty for Papa John's, offering a crucial endorsement of its potential and leadership.
The company's Chairman, Christopher Coleman, expressed gratitude for O'Neal's contributions during his tenure. Likewise, Rob Lynch, President and CEO of Papa John's, acknowledged O'Neal's service and the positive influence he has had on the company's culture and consumer engagement.
Despite his departure from the board, O'Neal will continue his relationship with Papa John's, focusing on his marketing partnership and his ownership of nine franchise locations in Atlanta, Georgia.
O'Neal cited his other business commitments as the reason for not extending his board service but expressed pride in his role in fostering the company's culture, including its recognition as a top employer for diversity for three consecutive years.
Papa John's has seen considerable growth over the past five years and has recently appointed three new board members in the last seven months. The company regularly assesses its board composition to ensure a diverse and skilled representation. No further decisions on additional board appointments have been disclosed at this time.
This move comes as Papa John's, known for its commitment to quality ingredients and as the third-largest pizza delivery company globally, continues to position itself for future growth. The information regarding O'Neal's departure from the board is based on a press release statement from Papa John's International, Inc.
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