Papa John's Founder John Schnatter to Resign Amid Racial Slur Controversy

Papa John's founder and former CEO John Schnatter has resigned from the company's board of directors

Schnatter, the public face of the pizza chain for decades, resigned after Forbes reported that he had used the N-word during a conference call in May.

Papa John's International Inc. announced Tuesday that Schnatter had stepped down from the board effective immediately, and that he had sold all of his remaining shares in the company.

The company said in a statement that it "has zero tolerance for racism and any form of discrimination."

Schnatter has apologized for his comments, but he has also defended them, saying he was not using the N-word in a racist way.

However, his comments have drawn widespread condemnation, and several major companies, including Walmart and Papa John's, have cut ties with him.

The resignation of Schnatter, who founded the company in 1984, is a major blow to the pizza chain.

Schnatter was the face of the company for decades, and his departure is likely to damage the company's image.

It is unclear what the future holds for Papa John's, but the company is facing a number of challenges, including declining sales and increasing competition.

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