Papa John's founder John Schnatter resigns as chairman after apologizing for N-word comment

9:28 AM ET Thu, 12 July 2018

John Schnatter, founder of Papa John's, resigns as chairman of the company's board. Schnatter apologized for using the N-word during a May conference call after Forbes magazine reported the incident. The stock surged Thursday morning, recouping Wednesday's losses — and then some.