The Right Coast

Editor: Thomas A. Smith
University of San Diego
School of Law

Wednesday, July 18, 2018

Papa John's founder John Schnatter says resignation 'was a mistake' - ABC News

“The board asked me to step down as chairman without apparently doing any investigation. I agreed, though today I believe it was a mistake to do so,” Schnatter said, according to a copy of the letter obtained by ABC News on Tuesday. “I have checked with corporate governance experts who tell me that this was not a proper action by the board.”

via abcnews.go.com

I advise him to unresign and invoke the business unjudgment rule.

https://rightcoast.typepad.com/rightcoast/2018/07/papa-johns-founder-john-schnatter-says-resignation-was-a-mistake-abc-news.html

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Comments

Spineless git! Or was he promised a humungous payoff?

Posted by: dearieme | Jul 18, 2018 8:14:36 AM