Retired basketball star joins Papa John’s board of directors
Four-time NBA champion Shaquille O’Neal will be joining the Papa John’s board of directors, as well as being an ambassador for the brand in advertisements. He will also be investing $840,000 (£655,725) in nine Papa John’s restaurants in Atlanta, Georgia.
Papa John’s will pay Shaquille $8.25million (£6.41million) over three years for the endorsement deal, according to a regulatory filing. In return, the brand and its national marketing fund will have the right and licence to use his name, nickname, autograph, voice, film portrayals, photograph, likeness and image in all media.
Shaquille says: “I have truly enjoyed the high-quality Papa John’s products for years and am excited to be able to help Papa John’s raise their game to new heights.”
Jeff Smith, chairman of Papa John’s board of directors, adds: “Shaquille has an excellent entrepreneurial background, including as a restaurant franchise owner, and is a natural creative marketer.”
In addition to his background as a basketball player and analyst, Shaquille has been investing in restaurants and franchises for several years. He owns a Krispy Kreme Doughnuts franchise in Atlanta, a fried chicken restaurant called Big Chicken in Las Vegas, and a fine-dining restaurant, Shaquille’s, in Los Angeles.
He also previously owned 27 Five Guys franchises and has held promotional roles in the past with McDonald’s, Taco Bell and Burger King.
Shaquille, who played in the NBA from 1992 until 2011, says: “I am excited to join the board and to help lead from the top, while also investing in nine stores in my home town of Atlanta and being an ambassador for the brand. I look forward to working with my colleagues on the board and using my experience in business and community to build on the progress being made at Papa John’s.”
Steve Ritchie, president and CEO of Papa John’s, comments: “In addition to his business acumen, Shaquille understands how to build lasting connections with consumers and energise employees.”
Alongside Shaquille, six new directors have been added to the company’s board of directors in 2019. The most recent additions include Michael Dubin, CEO of Dollar Shave Club; Jocelyn Mangan, CEO of Him For Her and a former OpenTable executive; and Anthony Sanfilippo, former CEO of Pinnacle Entertainment.
Shares of Papa John’s were up more than five per cent in trading following the announcement.
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