There’s a new Papa John’s CEO leading the company and the news has PZZA stock on its way up Thursday.
Papa John’s (NASDAQ:PZZA) new CEO is Rob Lynch. He is also taking over the role of President at the pizza chain. Having Lynch join the company is a sign that PZZA is serious about turning its business around.
The new Papa John’s CEO was most recently serving as the President of Arby’s. During his time with the company, he was responsible for helping the business change direction and report 16 consecutive quarters of same store sales growth. Lynch also lead the chain to record sales and profits last year. Prior to being the President of Arby’s, he was the CMO of Arby’s and was behind the “We Have the Meats” campaign.
The new Papa John’s CEO’s experience in the fast food industry doesn’t stop with just Arby’s. He also held several leadership positions at Yum Brands’ (NYSE:YUM) Taco Bell before leaving the company. He’s also worked at HJ Heinz Company and Procter & Gamble (NYSE:PG).
“I am thrilled to welcome Rob to Papa John’s at this pivotal moment in the company’s history,” Jeff Smith, Chairman of the Papa John’s Board of Directors, said in a statement. “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.”
PZZA stock was up 6% as of noon Tuesday and is up 9% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.