Wake up to Mike Allen’s AM, the 10 stories driving your day

Stories

Papa John's founder resigns after use of racial slur

The founder of Papa John's, John Schnatter, has resigned as board chairman following reports that he used the N-word on a conference call earlier this year.

Why it matters: This is the latest move from a large company in publicly taking a stand against racial discrimination. Earlier this year, Starbucks closed their stores for anti-bias training following the arrest of two black men at a Philadelphia store.

What they're saying: In a statement, the fast food pizza company announced, "Papa John’s International, Inc. today announced that the independent directors of the company have accepted the resignation of John H. Schnatter as Chairman of the Board. Olivia Kirtley acts as the company’s Lead Independent Director. Papa John’s will appoint a new Chairman of the Board in the coming weeks."

More stories loading.