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July 19, 2018updated 20 Jul 2018 2:38pm

Pizza chain Papa John’s appoints law firm to manage audit and investigation

American pizza chain Papa John's has hired international law firm Akin Gump Strauss Hauer & Feld to manage an audit and investigation of the company.

American pizza chain Papa John’s has hired international law firm Akin Gump Strauss Hauer & Feld to manage an audit and investigation of the company.

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A special committee, comprised of the pizza chain’s independent directors of the board, hired the law firm.

The firm will investigate existing processes, policies and systems of the restaurant chain related to diversity and inclusion, supplier and vendor engagement.

Led by Akin Gump partners Douglass Maynard and Estela Diaz, a team will manage additional experts and consultants in the investigation process.

Papa John’s International special committee member Olivia Kirtley said: “We’re focused on creating the right future for Papa John’s.

“The special committee of the board is committed to this thorough audit and investigation and to taking deliberate actions to rebuild trust at Papa John’s and to ensure that this company is driven by the values of diversity, equity, inclusion and respect.”

Earlier this week, the restaurant chain formed the special committee to evaluate and take action regarding the company’s relationships and arrangements with John H. Schnatter, who recently stepped down as its chairman.

Schnatter admitted to and apologised for racist statements made during a media training session. He owns a 24% stake in the company and also remains on the company’s board.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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