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A
former marketing executive at Yum Brands' Taco Bell and Procter
& Gamble Co, Lynch will be tasked with turning around the
company's struggling sales as it fights to get past the negative
publicity surrounding its founder John Schnatter.
Schnatter resigned as CEO in 2017 after he came under fire for
criticizing the National Football League's leadership over
national anthem protests by players, giving the role to Ritchie.
Hedge fund Starboard Value LP too has been pushing for a
turnaround in sales after taking a stake in the company, which
was worth $200 million in February. Papa John's chose Starboard
over a rival offer from Schnatter.
"(Lynch's) proven record transforming organizations and
realizing the growth potential of differentiated brands is
ideally suited for Papa John's as the company sets forth on its
next chapter," the company's chairman and Starboard CEO Jeff
Smith said.
In a separate statement, Inspire Brands, the company that owns
Arby's, said the sandwich chain's marketing head Jim Taylor
would take over as president.
Lynch's appointment was reported
https://www.bloomberg.com/
news/articles/2019-08-27/papa-john-s-preparing-to-appoint-arby-s-ceo-rob-lynch-as-its-ceo?utm_content=business&utm_
source=twitter&cmpid=socialflow-twitter-business&utm_campaign=socialflow-organic&utm_medium=social
by Bloomberg late on Monday.
(Reporting by Uday Sampath and Aishwarya Nair in Bengaluru;
editing by Sherry Jacob-Phillips and Arun Koyyur)
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