Papa John’s CEO Steve Ritchie Talks Restructuring

Steve Ritchie is the new CEO of Papa John’s pizza chain and has hit the ground running at the beginning of his tenure. On a recent earnings call, he emphasized that the recent changes put forth will help the company pivot to their five key focuses. He also detailed that early indications for the new chapter have been positive. Consumer sentiment in North America has been improving and cash flow for the company continues to be strong. He also acknowledged that Papa John’s situation is still challenging but the way ahead offers great hope and promise.

The Voices campaign that was initiated as part of the company’s rebuilding of their brand has helped shift consumer sentiment from negative to neutral. Several research firms have confirmed this and in some cases, a positive perception was noted. The ability to act promptly under Ritchie’s leadership has paid dividends quicker than many may have thought possible.

The earnings report did show a decline in several key areas but wasn’t devoid of any hope for a stronger, healthier tomorrow. International sales increased by ten percent as a number of new stores helped bolster profits. 300 stores were opened in the last year and give the company the foundation for a brighter future.

The executive suite under Ritchie’s guidance has also been overhauled as he enlisted talented professionals to help him implement a 21st Century vision for the company. A strong priority on customers is the bedrock of this facet of the company’s reorganization.

Four new executive roles have been created and will be titled, Vice-President. They each center around customers and how to improve their experience and serve them more efficiently. One good example is analytics and technology and how this critical area can vastly improve customer service and satisfaction. Steve Ritchie appears to be the right man at the right time.

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