How did Steve Ritchie bring Papa John’s so Close to Acquisition?

The Question that many Analysts had Wondered…

So Papa John’s fell a little bit. Earnings per share, net revenue and many other items were not what analysts investing within the service industry wanted to see. New CEO Steve Ritchie has created a landscape where the aforementioned figures are slowly beginning to climb to the level that they need to be at. How did he achieve this? He began by implementing many strategies that deal with the customer experience. The two most important strategies had a direct effect, however.

The Introduction of a New Growth Officer?

A new growth officer has been added to the boardroom. One of many new roles. Mike Nettles is his name, and he’s got a plan that involves a vice president of operations placed at every customer interaction point. There is a new vice president for overseeing the menu experience. There are also new vice presidents to oversee the innovative use of technology as well as branding. One vice president has been placed over an area referred to as, “the customer experience.” Apparently, Mr. Nettles is not the only new person in town when it comes to the Papa John’s boardroom.

Listening to Employees and also Customers More…

As discussed already, Mr. Nettles’ plan is one that listens to the customer experience. He and Steve Ritchie Papa Johns would also like to hear employees. The voices program has received such positive feedback since it’s implementation that some people have felt that it single handily rose the price of the company’s stock! The program offers a double edged sword really. Employees are put in a better mind set and they feel respected. On the same hand, investors love this so much that it shows. The effect is a truly positive one on the company’s numbers.

Acquisitions and other Growth Possible…

Several of the largest investment firms to invest in eateries are interested in acquiring this Papa John’s version 2.0. A few other random equity firms also happen to be interested. These entities are starting to see the type of numbers recover discussed earlier. They might also be swept up in the company’s exciting new culture.

Discover more: https://ir.papajohns.com/news-releases/news-release-details/papa-johns-promotes-steve-ritchie-ceo-0

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