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Papa John's founder resigns as board chairman

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John Schnatter resigned as chairman of the board for Papa John's, which he founded.

His resignation followed the admission and apology for his use of the N-word during a May conference call.

While CEO of Papa John's, Schnatter blamed the NFL for the pizza chain's declining sales. He cited player protests during the national anthem. Months later, Papa John's severed ties with the NFL as its official pizza sponsor.

Read more from CNBC.

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