Steve Ritchie’s Amazing Accomplishments at Papa John’s
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/