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Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Founding father John John Schnatter diluted by the Starboard hedge fund

Founding father John John Schnatter diluted by the Starboard hedge fund



Pope John John's founder John Schnatter congratulates Starboard Value LP hedge fund investments into a network of pizza restaurants, his lawyer said. to $ 250 million and named him the head of the director of the Jeff Smith Foundation

Schnatter, who according to the Refinitiva has about 30 percent of the company he founded at his father's bar, served until the last summer. He retired after announcing he was using a racial attack on a conference call on media training. He joined the executive director in December 2017.

Schnetter, who is still a member of the board of directors of Pope John, is trying to gain more control over the chain. With the investment in the Starboard, the number of directors jumped to nine out of six, weakening its influence.

"Mr. Schnatter welcomes the comments that came from Mr. Smith and the company over the past few days," the statement said. "Today's lawsuit with changes reflects the support of Mr. Smith and his plans to activate the company for the benefit of all shareholders." a voting agreement between Pope Jones and the Starboard, requiring voting of hedge funds of the company in favor of Pope John's directors. is ready to place its own interests higher than the shareholders, "Schnatter said in a statement. of shareholders. The lawsuit was first filed in August.


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