Shaquille O’Neal Declines Re-Election to Papa John’s Board Due to Business Commitments
Facts:
- On February 22, 2024, Shaquille O’Neal informed the Board of Directors of Papa John’s International, Inc. about his decision not to seek re-election as a director at the Company’s 2024 annual meeting of stockholders.- O’Neal’s current term as a director expires on May 2, 2024.- Shaquille O’Neal joined Papa John’s board five years ago, which was a challenging time for the Company.- His inclusion in the Board during that time was seen as a vote of confidence in Papa John’s.- Papa John’s reported a return on average invested assets (ROI) of 13.67% in its third quarter of 2023, which is lower than the Company’s average return on investment of 37.67%.
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