Papa John's

Quick Take

Papa John's says it has no PAC and does not currently use company money for direct political contributions, and the Senate lobbying database shows no filings in its name.[5][6] Its political story instead runs through two other channels. One is the founder's personal politics, including his 2012 comments on the Affordable Care Act and his 2017 criticism of the NFL's handling of player protests during the national anthem.[7][8] The other is the company's own inclusion record: in 2022 it announced a top score on a national LGBTQ workplace survey and described hosting its first drag show, and its annual reports later dropped the words "diversity" and "equity."[9][10][11]

No PAC and No Lobbying Filings

The company's 2026 proxy statement says Papa John's "does not have a political action committee (PAC)" and "does not currently use Company funds for direct political contributions."[5] A PAC is a fund that collects voluntary donations, usually from employees, and gives them to candidates. The proxy adds that any political contributions go through an approval process in its code of conduct.[5]

A search of the U.S. Senate lobbying database under the names Papa John, Papa Johns, Papa John's and Papa John's International returned no filings (accessed October 14, 2026).[6] That covers federal lobbying reported in the company's own name; it does not capture lobbying done by trade groups the company may belong to.

The Inclusion Record

In January 2022, Papa John's announced that it had earned a score of 100 on the Human Rights Campaign Foundation's Corporate Equality Index, a survey of LGBTQ workplace policies.[9] The same announcement credited its "Flavor Pride" employee group, which recommends LGBTQ policy changes, and described the company's first "Self-Expression and Authenticity Drag Show."[9] It also said the company had built self-identification practices for gender identity, pronouns and sexual orientation into recruiting and onboarding, and included gender-neutral bathrooms in the design of its new Atlanta office.[9]

In June 2020, Papa John's and Shaquille O'Neal launched the Shaq-a-Roni pizza, with $1 from each one sold through August 23, 2020, going to the Papa John's Foundation for Building Community.[12] O'Neal said the money would support COVID-19 relief, "the fight against racial injustice," Boys & Girls Clubs of America and UNCF, the United Negro College Fund.[12] The company's 2020 corporate responsibility report says the campaign raised more than $3.6 million.[26]

The company's annual reports tell a quieter story since then. The report for 2023 had a Human Capital subsection titled "Diversity, Equity and Inclusion," required unconscious bias training, and said the company wanted to "diversify our workforce and leadership pipeline."[10] In the report for 2024, that subsection was renamed "Culture," and the words diversity and equity no longer appear in the section.[11] Even one sentence was trimmed: "A diverse, inclusive environment is essential" became "An inclusive environment is essential."[10][11] The 2025 report kept the shorter wording, along with the company's "Everyone Belongs" value.[13] Papa John's still takes part in the Human Rights Campaign Foundation's survey, which lists a 2026 score of 100 for the company.[31]

The Founder's Politics

Schnatter's political statements were his own, and they came while he led the company. In April 2012, he hosted a fundraiser for Republican presidential candidate Mitt Romney at his Louisville home.[14] That August, he told shareholders, "Our best estimate is that the Obamacare will cost 11 to 14 cents per pizza."[7] Days after that November's election, he told college students in Florida that franchise owners would probably cut some workers' hours because of the law: "That's probably what's going to happen."[28]

On a November 1, 2017 earnings call, Schnatter said the NFL "has hurt us by not resolving the current debacle," a reference to players kneeling during the national anthem.[8] In mid-November, the company apologized "to anyone that thought they were divisive."[8] Before that apology, after a far-right website called Papa John's the "official pizza" of the alt-right, the company said it condemns "racism in all forms."[8] In February 2018, Papa John's and the NFL ended the league sponsorship the company had held since 2010.[15] At the time, the company said it would keep its partnerships with 22 individual NFL teams.[27]

Schnatter stepped down as CEO at the end of 2017.[16] In July 2018, he resigned as chairman after Forbes reported that he used a racial slur during a May 2018 media training call; he said, "Regardless of the context, I apologize."[16] The University of Louisville, where he had been a trustee, took the Papa John's name off its football stadium.[30] On July 22, 2018, the company's board adopted a shareholder rights plan, often called a poison pill, that would be triggered if Schnatter, who then owned more than 30 percent of the stock, raised his stake to 31 percent without the board's approval.[29] He later sued the marketing agency involved in that call, and the last claim in that case was dismissed in May 2026 under a settlement whose terms were not disclosed.[17]

Who Runs Papa John's Now

In February 2019, activist investment firm Starboard Value invested $200 million, and its CEO, Jeff Smith, became chairman.[18] Smith left the board in March 2023, when the company bought back Starboard's remaining shares, and longtime director Christopher Coleman became chair.[19] Former basketball star Shaquille O'Neal joined the board in March 2019 and invested in nine Atlanta restaurants.[20] He left the board when his term ended in May 2024 and stayed on as a brand ambassador and restaurant investor.[33]

The current CEO, Todd Penegor, took over on August 1, 2024.[21] In 2025, Apollo Global Management and Irth Capital made buyout offers, and in March 2026 Irth, a firm backed by a member of Qatar's royal family, offered $47 a share, about $1.5 billion.[3] On its August 2026 earnings call, the company said a long strategic review had ended without a sale, though the board "remains open to other alternatives."[4]

The business has been under strain. In its second quarter of 2026, revenue fell 8.8 percent to $482.4 million, North American sales at established stores fell 8.3 percent, and the company suspended its dividend.[22] It plans to close about 300 restaurants through 2027, most of them in 2026.[23] As of June 28, 2026, there were 5,978 Papa John's restaurants in 51 countries and territories, about 92 percent run by franchise owners.[22] The company's annual report says franchise owners' "employees are not our employees."[13]

Started in a Broom Closet

In 1983, Schnatter sold his 1971 Camaro Z28 for $2,800 to help save his father's tavern in Jeffersonville, Indiana, and used the rest to start selling pizza.[24] In March 1984, he and a business partner began selling pizza out of the bar's broom closet.[25] In 2009, he got the Camaro back after offering a $250,000 reward to whoever could find it.[24]

The chain also has a place in cryptocurrency history. On May 22, 2010, Florida software developer Laszlo Hanyecz paid 10,000 bitcoin for two Papa John's pizzas, the first known use of cryptocurrency to buy real-world goods. At bitcoin's May 2025 price, those coins were worth about $1.1 billion, and fans now mark the date as Bitcoin Pizza Day.[32]

Where to Find Them

Papa John's sells carryout and delivery pizza, with ordering at papajohns.com and in the Papa John's app. Its stock trades on the Nasdaq under the symbol PZZA.

Footnotes

[1] Joanna Fantozzi, Nation's Restaurant News, "Ex-CEO John Schnatter now owns just 4% of Papa John's; company posts preliminary Q1 same-store sales increase," March 31, 2020. https://www.nrn.com/quick-service/ex-ceo-john-schnatter-now-owns-just-4-of-papa-john-s-company-posts-preliminary-q1-same-store-sales-increase

[2] Papa John's International, Inc., Schedule 13D/A (Amendment No. 38) filed by John H. Schnatter, signed March 30, 2020. https://www.sec.gov/Archives/edgar/data/901491/000110465920040366/tm2014138-1_sc13da.htm

[3] Al Jazeera Staff and Reuters, Al Jazeera, "Qatari-backed fund offers $1.5bn for pizza giant Papa John's: Report," March 12, 2026. https://www.aljazeera.com/news/2026/3/12/qatari-backed-fund-offers-1-5bn-for-pizza-giant-papa-johns-report

[4] Frank DeMatteo, Investing.com, "Papa John's dashes near-term takeover hopes," August 6, 2026. https://www.investing.com/news/stock-market-news/papa-johns-dashes-nearterm-takeover-hopes-4842644

[5] Papa John's International, Inc., Definitive Proxy Statement (DEF 14A), 2026, "Corporate Responsibility." https://www.sec.gov/Archives/edgar/data/901491/000162828026021204/pzza-20260325.htm

[6] U.S. Senate Lobbying Disclosure Act database, client name searches "Papa John," "Papa Johns," "Papa John's" and "Papa John's International," accessed October 14, 2026. https://lda.gov/api/v1/filings/?client_name=Papa%20John

[7] WTVR CBS 6, "Papa John: Repeal Obama Care or I'll raise prices," August 9, 2012. https://www.wtvr.com/2012/08/09/papa-john-repeal-obama-care-or-ill-raise-prices

[8] Pete Blackburn, CBS Sports, "Papa John's issues weak apology after blaming NFL protests for drop in sales," November 14, 2017. https://www.cbssports.com/nfl/news/papa-johns-issues-weak-apology-after-blaming-nfl-protests-for-drop-in-sales

[9] Papa John's International, Business Wire, "Papa Johns Earns Top Score in Human Rights Campaign Foundation's 2022 Corporate Equality Index," January 27, 2022. https://www.businesswire.com/news/home/20220127005677/en

[10] Papa John's International, Inc., Form 10-K for fiscal year 2023, Item 1, "Human Capital." https://www.sec.gov/Archives/edgar/data/901491/000162828024007791/pzza-20231231.htm

[11] Papa John's International, Inc., Form 10-K for fiscal year 2024, Item 1, "Human Capital." https://www.sec.gov/Archives/edgar/data/901491/000162828025008427/pzza-20241229.htm

[12] Papa John's International, Business Wire, "Papa John's and Shaquille O'Neal Launch New Shaq-a-Roni Pizza," June 29, 2020. https://www.businesswire.com/news/home/20200629005148/en

[13] Papa John's International, Inc., Form 10-K for fiscal year 2025, Item 1, "Human Capital." https://www.sec.gov/Archives/edgar/data/901491/000162828026011965/pzza-20251228.htm

[14] WFPL News, "Romney Coming to Louisville for Fundraiser," April 17, 2012. https://lpm.org/news/2012-04-17/romney-coming-to-louisville-for-fundraiser

[15] Santa Fe New Mexican, via PressReader, "Papa John's, NFL end sponsorship agreement after anthem controversy," February 28, 2018. https://www.pressreader.com/usa/santa-fe-new-mexican/20180228/281934543442728

[16] David Meyer, Fortune, "Papa John's Chair John Schnatter Resigns After Using the N-Word," July 12, 2018. https://www.fortune.com/2018/07/12/papa-johns-schnatter-n-word

[17] Stephanie Kuzydym, Louisville Courier Journal, via The Daily Record, "John Schnatter settles lawsuit over Papa John's ousting," May 15, 2026. https://thedailyrecord.com/2026/05/15/john-schnatter-settles-lawsuit-papa-johns-ousting/

[18] Papa John's International, Inc., Form 8-K Exhibit 99.1, "Papa John's Announces $200 Million Strategic Investment from Starboard and Appointment of Three New Directors," February 4, 2019. https://www.sec.gov/Archives/edgar/data/901491/000110465919005314/a19-3945_2ex99d1.htm

[19] Papa John's International, Inc., Form 8-K Exhibit 99.1, "Papa John's Announces Board Chair Transition and Major Share Repurchase Transaction," March 2, 2023. https://www.sec.gov/Archives/edgar/data/901491/000110465923027683/tm238294d1_ex99-1.htm

[20] CNN Newsource, via WPTV, "Shaq joins Papa John's board of directors, will appear in chain's ads," March 22, 2019. https://www.wptv.com/news/national/shaq-joins-papa-johns-board-of-directors-will-appear-in-chians-ads

[21] Papa John's International, Inc., Form 8-K Exhibit 99.1, "Papa Johns Appoints Restaurant Industry Veteran Todd Penegor as President and CEO," August 1, 2024. https://www.sec.gov/Archives/edgar/data/901491/000162828024034527/exhibit991-080524.htm

[22] Papa John's International, Inc., Form 8-K Exhibit 99.1, "Papa John's Announces Second Quarter 2026 Financial Results; Updates Fiscal 2026 Outlook; Suspends Dividend," August 6, 2026. https://www.sec.gov/Archives/edgar/data/0000901491/000162828026053810/pzza-62826xpressrelease.htm

[23] Natalie Dreier, Cox Media Group National Content Desk, via WSB-TV, "Papa John's to close 300 locations," February 27, 2026. https://www.wsbtv.com/news/trending/papa-johns-close-300-locations/IU5I6X6GSNHAXP24BEMBRARYNA/

[24] Family Business Magazine, "Papa John's founder reunited with Camaro he sold to save family business," September 4, 2009. https://familybusinessmagazine.com/uncategorized/papa-johns-founder-reunited-with-camaro-he-sold-to-save-family-business/

[25] Jason Gallman, Encyclopedia.com, "Papa John's International, Inc." company history. https://www.encyclopedia.com/social-sciences-and-law/economics-business-and-labor/businesses-and-occupations/papa-johns

[26] Papa John's International, Inc., 2020 Corporate Responsibility Report, p. 21. https://www.papajohns.com/company/papajohns_corporate-responsibility-report_2020.pdf

[27] Restaurant Business, "Papa John's splits with the NFL," 2018. https://www.restaurantbusinessonline.com/financing/papa-johns-splits-nfl

[28] Joseph Lord, Louisville Public Media, "John Schnatter: Papa John's Franchisees May Cut Hours Because of Obamacare," November 12, 2012. https://www.lpm.org/news/2012-11-12/john-schnatter-papa-johns-franchisees-may-cut-hours-because-of-obamacare

[29] Papa John's International, Inc., Form 8-K Exhibit 99.1, "Papa John's Adopts Limited Duration Stockholder Rights Plan," July 22, 2018. https://www.sec.gov/Archives/edgar/data/0000901491/000110465918046377/a18-17549_1ex99d1.htm

[30] CNBC, report on the University of Louisville removing the Papa John's name from its stadium, July 13, 2018. https://www.cnbc.com/2018/07/13/university-of-louisville-removes-papa-johns-name-from-stadium.html

[31] Human Rights Campaign Foundation, Corporate Equality Index company profile, "Papa John's International, Inc.," accessed October 24, 2026. https://www.hrc.org/resources/corporations/papa-johns-international-inc.

[32] Alan Suderman, The Associated Press, via Fortune, "15 years ago, a software developer paid for two pizzas with 10,000 bitcoin. Those pies would be worth $1.1 billion today," May 22, 2025. https://fortune.com/article/pizza-bitcoin-day-story-laszlo-hanyecz-papa-johns-pizzas-value/

[33] Papa John's International, Business Wire, "Due to Shaquille O'Neal's Business Commitments, Papa Johns Announces He Will Not Seek 2024 Board Re-Election," February 28, 2024. https://www.businesswire.com/news/home/20240228359858/en