Papa Johns announced Thursday that it hired former Wendy’s leader Todd Penegor as its new CEO.
The industry veteran worked at Wendy’s for more than 10 and a half years, first as CFO and then as chief executive from May 2016 to February. Before that, he spent 13 years at Kellogg, including president of Kellogg’s Snacks, and over 11 years at Ford Motor Company.
“Todd’s appointment as President and Chief Executive Officer successfully concludes an extensive search to identify a proven leader who has the experience, skills and vision to achieve the full potential of the Papa Johns brand and accelerate growth,” Christopher Coleman, chair of the Papa Johns Board of Directors, said in a statement. “Todd has an outstanding record of leading winning teams and scaling franchised operations globally through trusted partnerships, product innovation and digital transformation. He has also demonstrated his ability to effectively allocate capital, drive value and enhance 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.”
While at Wendy’s, Penegor saw the brand cross more than 7,000 restaurants and achieve 12 straight years of same-store sales growth. One of the most notable accomplishments was the launch of a breakfast platform in March 2020 and the rollout of the efficiently sized Global Next Gen prototype, which features mobile and delivery shelving, a walk-up window, self-order kiosks, and a pull-ahead spot in the drive-thru.
By the time he left the burger giant, global digital sales mix reached 13 percent and digital sales grew 30 percent year-over-year as the loyalty program gained momentum.
“I am honored to serve as Chief Executive Officer of Papa Johns and work with the Board, our dedicated team members and franchisees to usher in the Company’s next chapter,” Penegor said in a statement. “By consistently delivering on the Better Ingredients. Better Pizza. brand promise, Papa Johns already has the best pizza in the industry. I am committed to providing exceptional customer experiences across all of our offerings and touchpoints to ensure we unlock the full potential of Papa Johns’ differentiated market position. Papa Johns has an exceptional foundation in place, and I’m confident in our ability to win in the QSR space.”
Penegor succeeds Rob Lynch, who led Papa Johns’ comeback after the brand was swept into controversy with founder John Schnatter. Lynch is now the CEO of Shake Shack. Ravi Thanawala has served as interim CEO since March and will continue as CFO.
Papa Johns in the beginning stages of its “Back to Better 2.0” strategy. This includes increased investment in data science, a 20 percent rise in franchisee contributions to the national marketing fund, and new development incentives to improve restaurant-level EBITDA margins. The company aims to expand its international footprint by focusing on regional hubs and improving digital infrastructure. Papa Johns also seeks to optimize its supply chain and increase franchisee profitability through incentive-based rebates and improved productivity.
Afterward, the pizza chain unveiled a refreshed brand platform, “Better Get You Some,” which highlights premium ingredients and emotional connections to pizza. The campaign features hip hop-themed visuals, expressionist art, and cultural elements, with a commercial starring rap artist Big Boi. This strategy, part of the “Back to Better 2.0” framework, looks to improve marketing efficiency and audience engagement.