Papa John’s International, Inc. announced on November 18 2025 that Ravi Thanawala, who has served as the company’s Chief Financial Officer since 2023 and as Executive Vice President of International since 2024, will also take on the role of President of North America. The promotion gives Thanawala responsibility for the company’s North American business—including company‑owned and franchised restaurants, digital and loyalty initiatives, and regional development—while he continues to oversee global finance.
Thanawala’s appointment follows a period of strong performance in the international segment, where he led four consecutive quarters of positive comparable sales growth. The company’s North American market, however, has experienced a decline in comparable sales, prompting the board to place a proven turnaround specialist at the helm. CEO Todd Penegor said the decision reflects confidence that Thanawala’s disciplined cost control and operational execution can reverse the headwinds in the U.S. and Canada.
The promotion is effective immediately, and Thanawala will report directly to Penegor. He will also retain his CFO duties, ensuring continuity in financial strategy while adding a new layer of operational oversight. The dual role is intended to align financial planning with on‑the‑ground execution, a structure that has been used successfully in other fast‑food chains to accelerate growth and improve margins.
Analysts note that the move comes amid a broader transformation effort that includes menu innovation, digital platform expansion, and a focus on value perception. The company’s Q3 2025 earnings showed flat global comparable sales and a miss on revenue and earnings estimates, underscoring the urgency of the leadership change. By leveraging Thanawala’s track record of cost discipline and revenue growth, Papa John’s aims to stabilize North American performance and support the company’s long‑term turnaround plan.
The announcement follows recent hedge‑fund activity, with Irenic Capital Management accumulating a stake in the company during Q3 2025. While the market reaction to the promotion itself is not documented, the timing suggests that investors are watching how the new leadership will address the company’s ongoing challenges and capitalize on its international momentum.
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