- Push-out Score suggests push-out forces
- After seven years in the position
- Accolades, praise and good wishes for Tucker
- Search for a successor
(exechange) — Louisville, Kentucky, January 16, 2018 — This news came the day after Martin Luther King, Jr. Day. Lance Tucker, finance chief of Papa John’s, leaves. It is a change at short notice. As announced by Papa John’s International, Inc. in a news release and in a regulatory filing published on Tuesday, January 16, 2018, Lance F. Tucker, Chief Financial Officer, leaves the pizza delivery company after seven years in the position, effective March 2, 2018.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CFOs who departed over the past twelve months was 5.8 years, according to data compiled by exechange.
Tucker’s move comes shortly after Steve M. Ritchie took over as CEO of Papa John’s International, Inc.
Papa John’s will undertake a search for a successor.
Tucker will be CFO at Jack in the Box
“Chief Financial Officer and Chief Administrative Officer Lance Tucker is departing the Company effective March 2, 2018, to assume the role of chief financial officer at Jack in the Box Inc.,” Papa John’s said.
Jack in the Box is a fast food restaurant company.
Jack in the Box Inc. announced that Lance F. Tucker will join the company as Executive Vice President and Chief Financial Officer, effective March 26, 2018.
Share price decline
The change follows a decline in the share price of Papa John’s International, Inc. since December 2016.
Chaired by John Schnatter
Papa John’s International, Inc. is chaired by John Schnatter.
John Schnatter founded Papa John’s in 1984 and opened the first Company restaurant in 1985. He currently serves as Founder and Chairman of the Board. He previously served as Chief Executive Officer from April 2011 to December 2017.
CEO: Steve M. Ritchie
Steve M. Ritchie serves as CEO of Papa John’s International, Inc. Steve Ritchie was appointed President and Chief Executive Officer in December 2017. He served as President and Chief Operating Officer from July 2015 to December 2017.
In the position of CFO since 2011
Lance F. Tucker was appointed Chief Administrative Officer in July 2012 and Chief Financial Officer and Treasurer in February 2011.
Tucker previously held the positions of Chief of Staff and Senior Vice President, Strategic Planning from June 2010 to February 2011, after serving as Chief of Staff and Vice President, Strategic Planning since June 2009.
Tucker was previously employed by the Company from 1994 to 1999 working in its finance department.
From 2003 to 2009, Tucker served as Chief Financial Officer of Evergreen Real Estate, a company owned by John Schnatter.
Tucker is a licensed Certified Public Accountant.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Lance Tucker’s imminent move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.
Read the full story in the exechange report 4.2018 ($).