Papa John’s (Nasdaq: PZZA) appoints Chris Collins interim CFO
Rhea-AI Filing Summary
Papa John’s International, Inc. announced a planned Chief Financial Officer transition. Ravi Thanawala will resign as CFO and President, North America effective June 30, 2026, to become CFO at another public company, and will remain in an advisory role through July 31, 2026. The company states his resignation is not due to any disagreement regarding operations, policies or practices and that he will not receive severance.
The board appointed Chris Collins, Senior Vice President of Corporate Finance and Principal Accounting Officer, as interim CFO effective June 30, 2026. For the period he serves in this role, his annual base salary increases to $415,000 and his target annual bonus opportunity rises to 75% of base salary. Papa John’s has begun a search for a permanent CFO and reassigned North America operations responsibilities to Marc Richard. The company also plans to release second quarter 2026 results before market open on August 6, 2026, followed by an earnings conference call at 8:00 a.m. ET.
Positive
- None.
Negative
- None.
Insights
Planned CFO change with experienced internal interim, limited immediate disruption signal.
Papa John’s is managing an executive transition as Ravi Thanawala departs as CFO and President, North America to take another public-company CFO role. The company explicitly notes no disagreements and no severance, suggesting an orderly, non-adversarial exit.
They have elevated seasoned insider Chris Collins, already Principal Accounting Officer and former interim CFO, to serve again as interim CFO with adjusted pay of $415,000 base salary and a 75% bonus target. His long tenure in finance roles may support continuity while the board conducts its permanent CFO search.
The release also flags upcoming Q2 2026 results on August 6, 2026, where Collins will appear on the earnings call. How he communicates strategy and financial priorities on that call will provide additional insight into leadership style and alignment with the company’s stated transformation and efficiency objectives.
8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
CFO resignation effective date: June 30, 2026
Advisory role end date: July 31, 2026
Interim CFO base salary: $415,000 per year
+3 more
6 metrics
CFO resignation effective date
June 30, 2026
Ravi Thanawala steps down as CFO and President, North America
Advisory role end date
July 31, 2026
Thanawala remains to assist with transition
Interim CFO base salary
$415,000 per year
Annual base salary for Chris Collins while serving as interim CFO
Interim CFO target bonus
75% of base salary
Target annual bonus opportunity for Chris Collins as interim CFO
Q2 2026 earnings release date
August 6, 2026
Second quarter 2026 results to be released before market open
Earnings call time
8:00 a.m. ET
Conference call following Q2 2026 results release
Key Terms
interim Chief Financial Officer, Regulation FD Disclosure, forward-looking statements, transformation priorities, +2 more
6 terms
interim Chief Financial Officer financial
"appointed to the additional position of interim Chief Financial Officer, effective June 30, 2026"
An interim chief financial officer is a temporary leader responsible for managing a company's financial activities, such as budgeting, financial planning, and reporting, during a transitional period. Think of it as filling in for a key manager until a permanent replacement is found. For investors, this role is important because it ensures financial stability and clear guidance during times of change or uncertainty.
Regulation FD Disclosure regulatory
"Item 7.01. Regulation FD Disclosure. On June 30, 2026, the Company issued a press release"
Regulation FD disclosure requires public companies to share important, market-moving information with everyone at the same time instead of tipping off analysts or large investors first. Think of it as making sure all players on a field hear the same announcement simultaneously; that fairness helps investors trust that stock prices reflect the same information and reduces the risk of sudden, unfair trading advantages or regulatory penalties for selective leaks.
forward-looking statements regulatory
"Certain matters discussed in this press release ... constitute forward-looking statements within the meaning of the federal securities laws"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
transformation priorities financial
"will enable continued execution on our transformation priorities"
Principal Accounting Officer financial
"Senior Vice President of Corporate Finance and Principal Accounting Officer"
The Principal Accounting Officer is the person responsible for making sure a company's financial records are accurate and follow the rules. They play a key role in preparing financial reports that show how well the company is doing. This helps investors, managers, and regulators trust the company's financial information.
Annual Report on Form 10-K regulatory
"discussed in detail in “Part I. Item 1A. – Risk Factors” in our Annual Report on Form 10-K"
An annual report on Form 10‑K is a required, comprehensive filing that publicly traded companies give to regulators and investors summarizing their business, results of operations, detailed financial statements reviewed by independent auditors, material risks, legal issues and management’s discussion of performance. Investors use it like a company’s year‑end report card and medical checkup: it reveals how the business made money, where it is vulnerable, and the facts needed to compare value, judge risk and make informed investment decisions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
Why is Papa John’s (PZZA) Chief Financial Officer Ravi Thanawala leaving?
Ravi Thanawala is resigning as Chief Financial Officer and President, North America effective June 30, 2026 to become CFO at another public company. Papa John’s states his departure is not due to any disagreement regarding the company’s operations, policies or practices.
Who is replacing the departing CFO at Papa John’s (PZZA)?
Chris Collins, Senior Vice President of Corporate Finance and Principal Accounting Officer, has been appointed interim Chief Financial Officer effective June 30, 2026. Collins is an experienced finance leader who previously served as Papa John’s interim CFO from March 2023 until July 2023.
How will Chris Collins be compensated as interim CFO of Papa John’s (PZZA)?
For the period Chris Collins serves as interim CFO, his annual base salary increases to $415,000 and his target annual bonus opportunity rises to 75% of his base salary. These changes were approved by the Compensation Committee of the Board of Directors.
Will Ravi Thanawala receive severance when leaving Papa John’s (PZZA)?
Ravi Thanawala will not receive severance benefits in connection with his departure from Papa John’s. He will, however, remain in an advisory role through July 31, 2026 to help transition his responsibilities to interim CFO Chris Collins and other executives.
When will Papa John’s (PZZA) report its second quarter 2026 financial results?
Papa John’s plans to release second quarter 2026 financial results before the market opens on Thursday, August 6, 2026. A conference call with management, including CEO Todd Penegor and interim CFO Chris Collins, will follow at 8:00 a.m. Eastern Time.
Has Papa John’s (PZZA) begun a search for a permanent Chief Financial Officer?
Yes. Alongside appointing Chris Collins as interim Chief Financial Officer effective June 30, 2026, Papa John’s has commenced a search for a permanent CFO. Collins will serve in the interim role during this period of external and/or internal candidate evaluation.
Who will oversee North America operations after Ravi Thanawala leaves Papa John’s (PZZA)?
Following Ravi Thanawala’s departure, Marc Richard, Senior Vice President of North America Operations, has assumed responsibility for all North America operations. This includes the areas previously overseen by Thanawala in his dual role as President, North America.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
Commission File Number: 0-21660
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of (I.R.S. Employer Identification
incorporation or organization) Number)
(Address of principal executive offices)
(502 ) 261-7272
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class: | Trading Symbol | Name of each exchange on which registered: | ||||||||||||
Securities registered pursuant to Section 12(g) of the Act: None
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 26, 2026, Ravi Thanawala informed Papa John’s International, Inc. (the “Company”) of his decision to resign from his position as Chief Financial Officer and President, North America of the Company effective June 30, 2026 to assume a chief financial officer position with another public company. Mr. Thanawala’s resignation is not due to any disagreement with the Company on any matter relating to its operations, policies or practices. Mr. Thanawala will serve in an advisory role through July 31, 2026 in order to assist with the transition of his responsibilities. Mr. Thanawala is not entitled to any severance benefits as a result of his departure. The Company has commenced a search for a permanent Chief Financial Officer.
In connection with Mr. Thanawala’s resignation, the Company appointed Christopher K. Collins, the Company’s Senior Vice President of Corporate Finance and Principal Accounting Officer, to the additional position of interim Chief Financial Officer, effective June 30, 2026.
Mr. Collins, 56, has served as the Company’s Senior Vice President of Corporate Finance and Principal Accounting Officer since July 2025. He joined Papa Johns as Vice President, Treasury and Tax in April 2021 and previously served as the Company’s interim Chief Financial Officer and Principal Accounting Officer from March 2023 until July 2023. From July 2023 to July 2025, Mr. Collins served as Vice President of Finance - Treasury, Tax, and International Business Segment. He is a seasoned finance professional with over 30 years of experience leading finance functions in the United States and internationally for public companies. Prior to joining the Company, Mr. Collins served as the VP, Treasury at Signet Jewelers from 2019 until 2020. Prior to 2019, he held several financial leadership roles with The Goodyear Tire & Rubber Company in the United States and Europe and with American Axle & Manufacturing.
Mr. Collins has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K, has no arrangement or understanding between him and any other person required to be disclosed pursuant to Item 401(b) of Regulation S-K and has no family relationships required to be disclosed pursuant to Item 401(d) of Regulation S-K.
In connection with his appointment as interim Chief Financial Officer, the Compensation Committee of the Board has approved the following changes to Mr. Collins’ compensation, in each case for the period of time in which he serves in this position: (i) an increase of his annual base salary to $415,000 and (ii) an increase in his target annual bonus opportunity to 75% of his base salary.
Item 7.01. Regulation FD Disclosure.
On June 30, 2026, the Company issued a press release regarding the Chief Financial Officer transition. A copy of the press release is being furnished as Exhibit 99.1 attached hereto.
The information in the press release is being furnished, not filed, pursuant to Item 7.01 of Form 8-K. Accordingly, the information in Item 7.01 of this Current Report, including Exhibit 99.1, will not be
incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated by reference.
Item 9.01 Financial Statements and Exhibits.
Exhibit Number | Description of Exhibit | |||||||
99.1 | Papa John's International, Inc. press release dated June 30, 2026. | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| PAPA JOHN’S INTERNATIONAL, INC. | |||||
| (Registrant) | |||||
Date: June 30, 2026 | /s/ Caroline Miller Oyler | ||||
| Caroline Miller Oyler | |||||
| Chief Administrative Officer and Corporate Secretary | |||||
FOR IMMEDIATE RELEASE
Papa Johns Announces CFO Transition
Chris Collins, SVP, Corporate Finance and Principal Accounting Officer, Appointed Interim CFO
LOUISVILLE, Ky., June 30, 2026 – Papa John’s International, Inc. (Nasdaq: PZZA) (“Papa Johns”) (the “Company”) today announced that Chris Collins, Senior Vice President of Corporate Finance and Principal Accounting Officer, has been appointed to the additional position of interim Chief Financial Officer, effective immediately. Collins succeeds Ravi Thanawala, who is leaving Papa Johns to assume a chief financial officer position at another public company. Thanawala will be available to Papa Johns in an advisory capacity until July 31, 2026, to support a smooth transition. Papa Johns has commenced a search for a permanent Chief Financial Officer.
Collins is a seasoned finance professional with more than 30 years of experience leading finance functions at public companies in the United States and internationally. He joined Papa Johns as Vice President, Treasury and Tax in April 2021 and previously served as the Company’s interim Chief Financial Officer and Principal Accounting Officer from March 2023 until July 2023. From July 2023 to July 2025, Collins served as Vice President of Finance - Treasury, Tax, and International Business Segment. He was appointed Senior Vice President of Corporate Finance and Principal Accounting Officer in July 2025. Prior to joining Papa Johns, Collins served as the Vice President, Treasury at Signet Jewelers from 2019 until 2020. Prior to 2019, he held several financial leadership roles with The Goodyear Tire & Rubber Company in the United States and Europe, and with American Axle & Manufacturing.
“Chris is a proven finance leader with deep knowledge of the Company and the opportunities we are pursuing to maximize shareholder value and position Papa Johns for its greatest success as the best pizza makers in the business,” said Todd Penegor, President and Chief Executive Officer of Papa Johns. “I am confident that Chris’s support in this interim role along with our talented team will enable continued execution on our transformation priorities.”
“I look forward to working closely with Todd and the Papa Johns Executive Leadership Team to further drive operating efficiencies, optimize the Company’s fleet and strengthen the Papa Johns brand,” said Chris Collins.
Penegor continued, “On behalf of the Papa Johns team, I want to thank Ravi for his leadership and contributions to the Company. He has been a valued colleague, and we wish him all the best in his next chapter.”
In connection with Thanawala’s departure, Marc Richard, Senior Vice President of North America Operations, has assumed responsibility for all North America operations, including those previously overseen by Thanawala in his role as President.
Separately, Papa Johns will release its second quarter financial results before the market opens on Thursday, August 6, 2026, with a conference call to follow at 8:00 a.m. ET.
Participants on the call will include Todd Penegor, President and Chief Executive Officer, Chris Collins, interim Chief Financial Officer, Senior Vice President of Corporate Finance and Principal Accounting Officer, and Heather Hollander, SVP Strategy, Investor Relations, and Financial Planning and Analysis.
To listen to the webcast, participants should register online at https://ir.papajohns.com/news-events/ir-calendar. Participants are requested to register a day in advance or at least a minimum 15 minutes before the start of the call. A replay of the webcast will be available approximately two hours after the call and archived on the same web page.
About Papa Johns
Papa John’s International, Inc. (Nasdaq: PZZA) opened its doors in 1984 with one goal in mind: BETTER INGREDIENTS. BETTER PIZZA.® Papa Johns believes that using high-quality ingredients leads to superior quality pizzas. Its original dough is made of only six ingredients and is fresh, never frozen. Papa Johns tops its pizzas with real cheese made from mozzarella, pizza sauce made with vine-ripened tomatoes that go from vine to can in the same day and meat free of fillers. It was the first national pizza delivery chain to announce the removal of artificial flavors and synthetic colors from its entire food menu. Papa Johns is co-headquartered in Atlanta, Ga. and Louisville, Ky. and is the world’s third-largest pizza delivery company with more than 6,000 restaurants in approximately 50 countries and territories. For more information about the Company or to order pizza online, visit www.papajohns.com or download the Papa Johns mobile app for iOS or Android.
Forward-Looking Statements
Certain matters discussed in this press release and other Company communications that are not statements of historical fact constitute forward-looking statements within the meaning of the federal securities laws. Generally, the use of words such as “expect,” “intend,” “estimate,” “believe,” “anticipate,” “will,” “forecast,” “outlook”, “plan,” “project,” or similar words identify forward-looking statements that we intend to be included within the safe harbor protections provided by the federal securities laws. Such forward-looking statements include or may relate to business and operational performance, profit margins, net unit growth, unit level performance, capital expenditures, restaurant and franchise development, franchisee relations, International business initiatives, executive leadership changes, the effectiveness of our transformation strategy and other business initiatives, investments in technology and other opportunities, marketing efforts and investments, liquidity, operating efficiencies and the results of our strategic decisions and actions. Such statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict and many of which are beyond our control. Therefore, actual outcomes and results may differ materially from those matters expressed or implied in such forward-looking statements.
Our forward-looking statements are based on our assumptions which are based on currently available information. Actual outcomes and results may differ materially from those matters expressed or implied in our forward-looking statements as a result of various factors, including the risks, uncertainties and assumptions discussed in detail in “Part I. Item 1A. – Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 28, 2025. We undertake no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise, except as required by law.
Papa Johns Investor Relations:
investor_relations@papajohns.com
Papa Johns Press Contact:
Janelle Panebianco
VP, External and Integrated Communications
Janelle_Panebianco@papajohns.com
Source: Papa John’s International, Inc.