Papa John's founder resigns, apologizes for racial slur

John Schnatter resigned as chairman of the board of the pizza chain after apologizing for using a racial slur on a conference call.
0:56 | 07/12/18

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Transcript for Papa John's founder resigns, apologizes for racial slur
Now to that breakingews overnight, papa John's found resigning as chairman of T board for the pizza chain after apologizes fng a racial slura conference call. Linsey Davis is here with T story. Reporter: Good morning. John schnatter allegedly used the call ironically on a conference calbout how to avoid publications crises. The a executive reportedly complahat colonel Sanders ca blacks the "N" word withfacing public backlash and repory said growing up in Indiana P used to drag african-ans from trucks until they died. Schnatter confirmed the incidentto "Forbes" acknowledging he did useppte a hurtful language adding that regardless of T context I ogize, simply stated racism has no place in our so after backlash online he was for give up his boa sea starte S they accepted his resignation chairman of the board. Otirst time his comments have beenissue. He's been having a few problems on these conference calls. He in November. He blamed the NFL anthem protest for slowing down pizza sales. Shortly after that he was reed the C and the company he founded was ded as the NFL's official pizza Sor which caused stocks to slide 30%. Another 5%t's sli the comments came T light yesterday. Unbelievable. Ry oc. Very shocking. Right. Thank you so much, linsey.

This transcript has been automatically generated and may not be 100% accurate.

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