Steve Ritchie is currently running Papa John’s International as the CEO as well as the President of the company. The organization is the world’s third biggest pizza company. Recently, Papa John’s received investment worth $200 million. The investment came from an investment adviser who is based in New York, Starboard Value LP. The Adviser invests in extremely undervalued enterprises and assumes an active managerial role. According to Papa John’s the company has the possibility to create an extra $50 million investment.
As a result of the investment, Papa John’s decided to expand its board with two new autonomous directors. The first one being Jeffrey Smith the current CEO of Starboard. Jeffrey was appointed as the Chairman of the board taking over the position from Olivia Kirtley. Anthony Sanfilippo is the other new independent director. Mr. Sanfilippo is the former CEO as well as Chairman of Pinnacle Entertainment Inc. In Addition, Steve Ritchie was nominated to the board and the number of directors became nine.
Papa John’s also formed a unique committee tasked with the responsibility to evaluate strategic options for the organization. The committee will be working with BofA Merrill Lynch and Lazard as the financial advisers. Kirtley stated that the agreement between Starboard and Papa John’s finalized a comprehensive strategic review which was conducted for five months. The assessment aimed at better positioning Papa John’s growth, improving the organization’s financial performance and serving the best interests of the shareholders. The transaction is beneficial to the company because it offers them with financial resources. The enterprise also attains robust and experienced directors on the board to assist the company to achieve a long term success.
Steve Ritchie joined Papa John’s in 1996 and has worked his way up to become the company’s CEO. He has worked in the organization for more than two decades. The vast experience and outstanding skills gained in the industry enables Steve to run the company perfectly. Steve’s education is an added advantage having graduated from Seneca High School. Steve Ritchie is based in Hikes Point in Louisville, Kentucky. Ritchie plans to expand his businesses as well as promoting Papa John’s brand globally.
Find out more about Steve Ritchie: http://stevemritchie.com/
Mark Okada manages around $15 billion at Highland Capital Management, LP, which he co-founded and currently serves as CIO. He oversees Highland’s hedge funds, separate accounts, special situation private equity, collateralized loan obligations, mutual funds, and ETFs. Of these, his specialty is CLOs. In fact, he is seen as an industry pioneer putting together the very first one ever. He is also a pioneer in the development of the bank loan market. He also currently serves portfolio manager of the Highland Floating Rate Opportunities Fund. Visit jimdondero.com to know more about him.
Okada first entered the U.S. financial industry by earning a B.A. in Economics and Psychology from the University of California, Los Angeles. In the years after graduation, he also earned the revered Chartered Financial Analyst designation. Today he a respected member of the board of directors of NexBank Capital, Inc. and is often a featured guest on televised news programs for commentary on financial matters.
In addition to his professional life, Okada also gives to philanthropic causes involving education, religious initiatives, and Japanese-American relations. To these philanthropic ends, he is a leading member of boards such as Education Is Freedom, an organization that provides college opportunities for underserved students; Common Grace Ministries, Inc., the Japanese Evangelical Missionary Society, Dedman College Humanities and Sciences at Southern Methodist University. He also serves as a member of the U.S.-Japan Council and is a trustee for the Japanese American National Museum. He was appointed to the three-year museum trustee role just last year, however people in this role can be reelected for it after that time has expired. He was seen as a tremendous acquisition by the leadership already on the board. Read more at Wikipedia about James Dondero.