During a recent conference call, the Chief Executive Officer of Papa John’s, Steve Ritchie talked about the fact that the company still has work to do in order to gain back the trust of their customers, but he also expressed the fact that Papa John’s is on its way to recovery. Ritchie started his role as the company’s CEO back in January, and pointed out that the company’s move towards rebranding and focusing on its employees is having the positive impact on consumer sentiment that he had hoped.
During the conference calls, Ritchie noted that he believes Papa John’s restructuring of its executive suite will help the company get back to focusing on customers. The restructuring is being led by Mike Nettles, who is an industry veteran and the company’s Chief Operating and Growth Officer as well as the new Executive Vice President. Additionally, Papa John’s created 4 more vice president roles related to innovation and branding, menu strategy, customer experience, and analytics and technology.
The company’s third-quarter earnings report showed a decline in same-stores sales, as well as revenue and earning per share, however, Ritchie noted during the call that executive are seeing indications that the measures of improvement that the company took are working and that they are optimistic about the opportunities ahead. He stated that the company took important steps during the quarter, and that Papa John’s still has challenges to face, but he is optimistic about heading into the fourth quarter.
Ritchie (@stevemritchie) declared that while the challenges for the company are still there, the company is seeing early indications that their action towards improvement are working. According to the CEO, the improved customer sentiment in North America, the outspoken support internally and externally, the company’s continued strong cash flows, and the stabilizing of comparable sales all support their confidence. Ritchie also brought up the fact that the “Voices” campaign which was launched in September, according to data from a number of research firms, is improving the customers’ perception of Papa John’s. He declared that they are committed to build on the current momentum they have and want to move the company forward to greater success.
Article reference: http://people.equilar.com/bio/steve-ritchie-papa-john-s/salary/711829