In this June 26, 2018 file photo, Shaquille O'Neal attends the world premiere of "Uncle Drew" at Alice Tully Hall in New York. (Photo by Andy Kropa/Invision/AP)
NEW YORK (AP) --
Papa John's has a new pitchman: Shaquille O'Neal.
The chain says the basketball Hall of Famer will appear in TV commercials and promote Papa John's in other ways. He will also join the company's board of directors and invest in nine of its restaurants in the Atlanta area.
Papa John's is trying to revive its image after the company's founder and namesake, John Schnatter, was reported to have used a racial slur during a media training session. Schnatter, who was the face of the company, has apologized for the slur and the company scrubbed his face from the company's logo and advertisements last year. Schnatter is still the Louisville, Kentucky-based company's biggest shareholder.
Papa John's International Inc. says it will pay O'Neal more than $8 million in cash and company stock for a three-year endorsement deal.
Wall Street seems to think it's a winning partnership. Shares of Papa John's soared nearly 6 percent Friday.
Pepsi soft drinks in plastic bottles are on sale at a grocery store in New York on Weds., Nov. 15, 2023. (AP Photo/Ted Shaffrey, File)
PepsiCo confirmed Friday that it's ending some of its diversity, equity and inclusion initiatives, even as rival Coca-Cola voiced support for its own inclusion efforts.
In a memo sent to employees, PepsiCo CEO Ramon Laguarta said the company will no longer set goals for minority representation in its managerial roles or supplier base. The company will also align its sponsorships to events and groups that promote business growth, he said.
Laguarta wrote that inclusion remains important to PepsiCo, whose brands include Gatorade, Lay's potato chips, Doritos, Mountain Dew as well as Pepsi. The Purchase, New York-based company's chief diversity officer will transition to a broader role focused on employee engagement, leadership development and ensuring an inclusive culture, he said.
Since President Donald Trump returned to the White House last month, U.S. government agencies, companies and schools have rushed to reevaluate policies and programs they adopted with the goal of reducing discrimination against members of minority groups, women and LGBTQ+ people.
Trump ended DEI programs within the federal government and has warned schools to end DEI programs or risk losing federal money.
PepsiCo's rollback came as Coca-Cola reaffirmed support for its DEI efforts.
In its annual report, Atlanta-based Coke warned that its business could be negatively affected if it is unable to attract employees that reflect its broad range of customers.
"Failure to maintain a corporate culture that fosters innovation, collaboration and inclusion โฆ could disrupt our operations and adversely affect our business and our future success," the company said.
Coca-Cola has set a goal of having women in 50% of its senior leadership roles by... Read More
