Papa Johns Hires Former Wendy’s Leader Todd Penegor as CEO

Papa John’s announced Thursday that it has hired Todd Penegora, a former Wendy’s leader, as its new CEO.

The industry veteran worked at Wendy’s for more than 10 1/2 years, first as chief financial officer and then as CEO from May 2016 to February. Before that, he spent 13 years at Kellogg, including as president of Kellogg’s Snacks, and more than 11 years at Ford Motor Company.

“Todd’s appointment as president and CEO successfully concludes an extensive search for a proven leader who has the experience, skills and vision to realize the full potential of the Papa Johns brand and accelerate growth,” Christopher Coleman, Papa Johns chairman, said in a statement. “Todd has an outstanding record of leading winning teams and scaling franchise operations around the world through trusted partnerships, product innovation and digital transformation. He has also demonstrated an ability to effectively allocate capital, drive value and increase profitability. We are excited to welcome Todd to Papa Johns and look forward to his contributions as we work to create significant, sustainable value for our shareholders and franchisees.”

During his time at Wendy’s, Penegor saw the brand expand to over 7,000 restaurants and achieve 12 consecutive years of same-store sales growth. One of the most notable accomplishments was the launch of the breakfast platform in March 2020 and the implementation of a high-performance Global Next Gen prototype that includes mobile and delivery shelving, a drive-thru window, self-order kiosks and drive-thru pick-up.

At the time of his departure from the burger giant, global digital sales had reached 13 percent, and digital sales were up 30 percent year-over-year as its loyalty program gained momentum.

“I am honored to serve as CEO of Papa John’s and work with the board, our dedicated team members and franchisees to launch the next chapter in the company’s history,” Penegor said in a statement. “By consistently delivering on the brand promise of Better Ingredients. Better Pizza., Papa John’s already has the best pizza in the industry. I am committed to delivering exceptional customer experiences across all of our offerings and touchpoints to ensure we realize the full potential of Papa John’s differentiated market position. Papa John’s has a unique foundation and I am confident we will succeed in the QSR space.”

Penegor replaces Rob Lynch, who led Papa John’s comeback after the brand was embroiled in controversy with founder John Schnatter. Lynch is now CEO of Shake Shack. Ravi Thanawala has been serving as interim CEO since March and will continue as CFO.

Papa Johns is in the early stages of its “Back to Better 2.0” strategy, which includes increased investment in data science, a 20 percent increase in franchisee contributions to the national marketing fund, and new growth incentives to improve restaurant-level EBITDA margins. The company is looking to expand its international presence, focusing on regional hubs and improving its digital infrastructure. Papa Johns is also looking to optimize its supply chain and increase franchisee profitability through incentive-based discounts and increased productivity.

The pizza chain later unveiled a refreshed “Better Get You Some” brand platform that emphasizes the pizza’s premium ingredients and emotional connections. The campaign features hip-hop-themed visuals, expressionist art and cultural elements, and features rapper Big Boi. The strategy, part of its “Back to Better 2.0” framework, aims to improve marketing effectiveness and audience engagement.