On Thursday, the wife of Papa John’s founder John Schnatter filed for divorce. The duo has been married for 32 years. Figuring out herself as M. Annette Cox, her maiden title, she stated the couple separated on April 1 and that their marriage is extremely broken.
Suggesting that they have already got divvied up their fortune, she asks that the settlement agreement entered into by the events be included within the court docket’s decree
Schnatter’s net value has been reported at $500 million, a quantity that has shrunk due to the declining worth of the company’s inventory. He also has offered off a few of his shares, and now owns 19% of the corporate.
The divorce was not surprising. Just a few months in the past, Cox purchased a home in Prospect. She is 59, and he’s 57, in accordance with the filing, which says they’ve two kids from the wedding, however, who both are adults.
Schnatter, who had knocked out a broom closet in his father’s tavern to start out promoting pizzas, soared to billionaire heights in early 2017 when his firm and it’s stock worth had been driving excessive.
However, his off-the-cuff remarks acquired him in hot water later that year, when he blamed sagging gross sales on the NFL’s dealing with black participant protests in the course of the national anthem
Schnatter was changed as CEO inside weeks. Then disaster engulfed the company after a Forbes report in July 2018 detailed Schnatter’s use of the N-word throughout a conference call with a marketing contractor.
The combative Schnatter left the company board and has been trimming his stake within the company since May. He’s asserted in interviews that the company has run off the rails without his experience.