Papa John's CEO Rob Lynch To Step Down; Reaffirms FY24 Adj. Operating Income Outlook

(RTTNews) - Papa John's International, Inc. (PZZA) announced Thursday that President and Chief Executive Officer Rob Lynch is stepping down and will provide support in an advisory capacity until April 30, 2024, to ensure a smooth transition.

Ravi Thanawala, the chief financial officer, will take over as Interim CEO, effective immediately. The Board is in search of a permanent replacement.

The company also reaffirmed its fiscal 2024 adjusted operating income to be between $153 million and $163 million.

Additionally, Papa John's anticipates more than a 20 percent increase in net unit growth for North America compared to the net unit openings in 2023.