Papa John’s founder resigns, apologizes

NEW YORK — Papa John’s founder John Schnatter has resigned as chairman of the board. The company made the announcement late Wednesday, hours after Schnatter apologized for using a racial slur during a conference call in May. Forbes said 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 a statement released by Papa John’s, Schnatter said reports attributing use of “inappropriate and hurtful” language to him were true. “Regardless of the context, I apologize,” the statement said. Schnatter stepped down as CEO last year after blaming slowing sales growth on the outcry over football players kneeling during the national anthem. Papa John’s shares fell nearly 5 percent Wednesday.