Arguably, the biggest story about Papa John’s in recent memory is one that the brand’s managers and investors would rather forget. After several significant controversies, the business’s founder and original CEO was ousted from management in 2018 and the board in 2019. Even in 2021, he continues to make controversial statements.
However, the new face of Papa John’s and his management team are working hard to turn over a new leaf. CEO Rob Lynch has made some significant changes aimed at helping the business turn itself around. The good news for anyone with an interest in Papa John’s is that those changes seem to be working.
What Changes Are Coming With Papa John’s?
After being hired as CEO, Lynch quickly set about making some big changes in management. Shuffling around the executives has seemed to produce some significant results with both earnings and stock price up significantly since lows before his tenure. Papa John’s has also benefitted from a partnership with NBA legend Shaq that saw the Hall of Famer act as the company’s spokesperson.
In the latter half of 2021, Papa John’s relocated its headquarters to Atlanta, Georgia. This move was planned so that the business could tap into the significant talent pool the city has to offer due to being home to other quick-serve brands. As this transition continues, the business’s management hopes to tap into new innovative ideas and work brought by highly skilled corporate-level team members.
The pizza chain has also introduced new products. This includes some new pizza options, particularly for people with dietary restrictions. Additionally, the brand introduced the Papadia, a hybrid of a pizza and a sandwich. These products have helped to revitalize the business.
Significantly, the business is also taking a more aggressive approach to growth again. While sales and new franchises slumped around 2018, the business is now inking new deals with franchise partners. This includes one deal to open 100 stores in Texas by the end of the decade. Another deal with an internal partner will open over 200 stores internationally by 2025. These are great signs for continued growth for the brand.
What The Future Holds For Papa John’s
Without question, Papa John’s has had to make some substantial changes to rebound following a few fraught years. These changes seem to signal a bright future for the business. By focusing on the core values of Papa John’s, the new management team has started to build a stronger brand.
Through innovative thinking, new products and a stronger commitment to fostering great talent, the Papa John’s team is setting up future growth. It is still early, but the improvements in sales and stock price seem to be here to stay (and continue).
Learn More About Papa John’s Today
Discover more about Papa John’s today. This business has had a major turnaround in the past few years and appears poised to fully turn over a new leaf. It is a great story about how a business can be reinvented following difficult times.