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Shaq joins the Board of Directors of Papa John

O'Neal, the NBA Hall-of-Famer, will join the board of Papa John. O'Neal will also invest in Atlanta's nine branches of Papa John's and become brand ambassador in advertising. The company will pay O'Neal over three years $ 8.25 million for the acquisition of the purchase price, it said in an authorization process.

"Shaquille has an excellent entrepreneurial background, also as a restaurant franchise owner, and is a creative marketer." said Jeff Smith, Chairman of the Board of Directors of Papa John.

O & Neal has experience in the grocery business. He owns a Krispy Kreme donut franchise in Atlanta, a fast roast chicken from Big Chicken Las Vegas and Shaquille's Los Angeles restaurant.

Dad John's could use the popularity of O'Neal as well as his business acumen. Sales of Papa John's ( PZZA ) is declining in five quarters.
The company reported a slowdown in October 201
7, but no decline. Chief Executive Officer John Schnatter accused the NFL leadership of handling player protests. Two months after the comments, Schnatter resigned as CEO, triggering a setback for dad John & # 39; s.
Since then, North American sales have collapsed, both through the consequences of Schnatter's commentary and through a separate controversy: Over During the summer, it became known that Schnatter had used a race bow during a telephone conference call. Schnatter resigned from his role as chairman in July.

Papa John & # 39; s distanced himself with an advertising campaign and an internal examination of diversity and inclusion techniques from his dishonored founder and former pitchman. Schnatter fought back with violent attacks. He described current CEO Steve Ritchie as the wrong man for the job and said he had helped with harassment and intimidation to create a poisonous culture.

The Company Expects to Reverse the $ 200 Million Starboard Value Plus Hedge Fund Investment A restructuring of the leadership was announced last month.

"Daddy John's building a better culture, and I want to participate in improving [company] from the inside," said O'Neal in a statement.

Dad John & # 39; s share rose 5% over the announcement.

– Danielle Wiener-Bronner of CNN Business contributed to this article.

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