Steve Ritchie And His Plans For Papa Johns
March 6, 2019
Steve Ritchie has been working at Papa Johns for about 22 years now. He has had the opportunity to develop his skills through various roles held at Papa Johns over the years. He started as a customer service representative back in 1996 and is the current president and CEO of Papa Johns. This is the 3rd largest pizza company in the world. Steve Ritchie Papa John’s believes in hard work. This fact is proven by his work ethic ever since joining Papa Johns. His becoming the CEO of Papa Johns was not by chance. It is part of the company’s planned growth and expansion internationally.
Steve Ritchie is now a member of the board at Papa Johns International Inc. The board is now made up of nine members in total. A special committee was formed in September to evaluate strategic company options. Papa Johns would be working with BofA Merrill Lynch and Lazard as financial advisors. There is expected growth and development with the new board taking over under the leadership of Papa Johns president Steve Ritchie.
Starboard Value LP has an agreement to invest 200 million dollars into Papa Johns. An extra investment of 50 million dollars will be advanced in March. The investment will come in the form of Papa Johns’ preferred Series B stock. An additional preferred stock worth up to 50 million dollars is available for Starboard to buy in March. Half of this investment will be used in the repayment of debt while the other half will be going towards strengthening the company’s strategic priorities. These priorities are made up of five specific areas that Papa Johns aims at improving.
Steve Richie Papa Johns feels that the results from the last financial quarter were disappointing. He firmly believes that Papa Johns has greater potential, especially with its newly formed partnerships. His idea is to steer the company towards investing in areas that customers would like improved. He intends to inspire a sense of togetherness by raising the quality of Papa Johns’ brand.
Papa Johns recently launched a handcrafted pizza called Philly Cheesesteak. It is part of the new found growth and expansion under the leadership of Steve Ritchie. Steve is also asking that all the employees get diversity training so they can improve customer service delivery. Refer to This Article for related information.
More about Steve Richie PapaJohns: https://people.equilar.com/bio/steve-ritchie-papa-john-s/salary/711829