Papa John's Founder John Schnatter Resigns After Dropping N-Bomb During Conference Call

Papa John's Founder John Schnatter Resigns After Dropping N-Bomb During Conference Call

Papa John's Pizza chairman John Schnatter resigned as chairman of the board, the company said Wednesday.

Earlier in the day, he acknowledged using a racial slur during a May conference call and apologized.

The company's shares fell nearly 5 percent Wednesday after the initial report was published.