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Papa John's creates a poison pill to prevent founder John Schnatter from taking it over (PZZA)

Papa John's creates a poison pill to prevent founder John Schnatter from taking it over (PZZA)

Papa John's creates a poison pill to prevent founder John Schnatter from taking it over (PZZA)The Papa John’s board of directors has adopted a limited-duration stockholder rights plan to prevent the company’s founder, John Schnatter, from taking control of the company. Schnatter resigned as chairman of the board earlier this month after he admitted to using a racial slur on a conference call. The pizza chain Papa John’s has adopted a so-called poison pill designed to prevent the company’s founder, John Schnatter, from taking over the company.

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