Papa Johns Promotes Ravi Thanawala to Chief Financial Officer and President, North America

Ravi will lead the Company’s North American business, including restaurant operations and development strategies along with his CFO responsibilities.

In connection with his appointment, the Company’s International business will be led by Chris Lyn-Sue, who has been promoted from Senior Vice President Head of International Markets to Senior Vice President General Manager of International.

Thanawala and Lyn-Sue will report directly to President and Chief Executive Officer Todd Penegor, These changes are effective immediately.

“Ravi is a proven leader whose disciplined focus on operating execution, compelling product innovation and cost management has generated meaningful growth across Papa Johns International business,” said Penegor. “Given his track record with Papa Johns international business and his success with consumer brand turnarounds, we are confident that Ravi is the right person to guide our North America business through current headwinds and help accelerate our transformation to deliver greater value for shareholders, customers and franchisees.”

Thanawala joined Papa Johns as CFO in 2023 and was promoted to CFO and EVP, International in 2024. He served as the Company’s Interim CEO from March 2024 to August 2024. As a result of the improvement initiatives that have been implemented in the Company’s International business under Thanawala’s stewardship, Papa Johns recently reported its fourth consecutive quarter of positive International comparable sales, with sequential improvement each quarter.

In connection with the management changes announced today Joe Sieve Chief Restaurant and Global Development Officer is departing the Company.

Penegor continued “On behalf of the Board and management team I’d like to thank Joe for his dedication and service to Papa Johns. We wish him all the best in his next chapter.”

Thanawala joined Papa Johns from Nike Inc. where he most recently served as Chief Financial Officer of Nike North America, Nike Inc.’s largest division generating approximately $20 billion in revenue on an annual basis.

Prior to Nike Inc. Thanawala spent eight years at ANN INC with progressively increasing responsibilities in finance and operations. He served in the finance leadership role for LOFT; led ANN INC’s Asia operations, global logistics and international trade based in Hong Kong and eventually became CFO of the ANN INC. business a subsidiary of Ascena Retail Group Inc.