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2011 American Music Awards - Arrivals

Source: JB Lacroix / Getty

John Schnatter — The Founder of Papa John’s Pizza has resigned as Chairman of the Board.

Back in May, John Schnatter was on a company conference call and apologize for using the N-Word.

The company said that Schnatter used the N-word during a media training exercise.   When asked how he would distance himself from racist groups, Schnatter reportedly complained that Colonel Sanders never faced a backlash for using the word.  IN OTHER WORDS HE TRIED TO JUSTIFY USING THE WORD.

Backlash:   The University of Louisville also said that Schnatter resigned from its board of trustees, effective immediately.

Schnatter stepped down as CEO last year after blaming slowing sales growth on the outcry surrounding football players kneeling during the national anthem, he was front and center with his complaints!!  He remains chairman of the company.

Papa John’s shares fell nearly 5 percent Wednesday after the announcement, closing at $48.33.  “MORE BACKLASH.”

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