Papa John's CEO Rob Lynch resigns effective March 20; CFO Ravi Thanawala interim CEO; FY2024 guidance reaffirmed

PAPA JOHNS INTERNATIONAL INC

CEO Rob Lynch resigns to assume CEO role elsewhere, effective March 20, 2024; will advise through April 30.
CFO Ravi Thanawala appointed interim CEO; base salary increased by $130k, bonus target raised to 125%, receives $400k RSU.
Board reduced from 10 to 9 directors; comprehensive external search for permanent CEO underway.
FY2024 adjusted operating income guidance reaffirmed at $153M-$163M.
North America net unit growth expected >20% vs 2023; international gross openings forecast 100-140 restaurants.

item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Robert M. Lynch

President and Chief Executive Officer

PZZA · PAPA JOHNS INTERNATIONAL INC

Effective: 2024-03-20
Successor: Ravi Thanawala
Filed: March 21, 2024, 7:59 PM ET

On March 18, 2024, Robert M. Lynch informed the Board of Directors (the “Board”) of Papa John’s International, Inc. (the “Company”) of his decision to resign from his position as President and Chief Executive Officer of the Company and as a director of the Board, in each case effective March 20, 2024, to assume a chief executive officer role with another company.

Appointed (interim)

Ravi Thanawala

interim Chief Executive Officer

PZZA · PAPA JOHNS INTERNATIONAL INC

Effective: 2024-03-20
Filed: March 21, 2024, 7:59 PM ET

the Board appointed Ravi Thanawala, the Company’s Chief Financial Officer, to the additional position of interim Chief Executive Officer, effective March 20, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert M. Lynch resigned as President and Chief Executive Officer at PAPA JOHNS INTERNATIONAL INC.

Action: resigned
Role: President and Chief Executive Officer

Exact text from the filing

On March 18, 2024, Robert M. Lynch informed the Board of Directors (the “Board”) of Papa John’s International, Inc. (the “Company”) of his decision to resign from his position as President and Chief Executive Officer of the Company and as a director of the Board, in each case effective March 20, 2024, to assume a chief executive officer role with another company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Ravi Thanawala was appointed as interim Chief Executive Officer at PAPA JOHNS INTERNATIONAL INC.

Action: appointed
Role: interim Chief Executive Officer

Exact text from the filing

the Board appointed Ravi Thanawala, the Company’s Chief Financial Officer, to the additional position of interim Chief Executive Officer, effective March 20, 2024.

View on SEC.gov

PAPA JOHNS INTERNATIONAL INC filing history →

Source: SEC EDGAR

accession 0001628280-24-012369

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