Mon. Nov 18th, 2019

Papa John’s names Rob Lynch its new CEO; Ritchie is out after 20 months in the role

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Papa John’s International Inc.

PZZA, +1.76%

said Tuesday it has appointed Rob Lynch as its president and chief executive officer, effective immediately. The pizza-delivery company’s stock rose 3.0% in premarket trading. Lynch, who was previously the president of Arby’s sandwich restaurant chain, succeeds Steve Ritchie, how had been president and CEO since December 2017. Separately, the company affirmed its 2019 guidance for adjusted EPS of $1.00 to $2.00 and for North America same-store sales growth of negative 1% to negative 4%. “I am thrilled to welcome Rob to Papa John’s at this pivotal moment in the company’s history,” said Chairman Jeff Smith. “His proven record transforming organizations and realizing the growth potential of differentiated brands is ideally suited for Papa John’s as the company sets forth on its next chapter.” the stock has gained 10.1% year to date through Monday but has lost 2.6% over the past 12 months, while the S&P 500

SPX, +1.10%

has rallied 14.8% year to date but has slipped 0.6% the past year.

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