Papa John's Elects Norborne P. Cole, Jr. Lead Independent Director.Company Also Increases Stock Repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. Authorization by $50 Million to $675 Million LOUISVILLE, Ky. -- Papa John's International, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : PZZA) today announced the election of Norborne P. Cole, Jr. as lead independent director of its board of directors. Cole, age 64, has been a member of the Papa John's board since 2003 and serves on its Compensation and Corporate Governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. and Nominating committees. Cole, who resides in San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. , serves as vice-chairman of the board of directors of Silver Eagle Distributors, L.P., a Houston-based company that distributes Anheuser-Busch and other products. Cole also serves on the board of directors of Randgold Resources, Ltd. (NASDAQ: GOLD) and (LSE LSE - Language Sensitive Editor : RRS RRS - An early definition of Scheme. Revised in R2RS. ["The Revised Report on Scheme", G.L. Steele et al, AI Memo 452, MIT, Jan 1978]. ), an international gold mining and exploration business. Cole retired in 1998 after a 32-year career with the Coca-Cola Company and its bottlers, most recently serving as managing director and chief executive officer of Coca-Cola Amatil Coca-Cola Amatil (ASX: CCL) is an Australian company that bottles and distributes The Coca-Cola Company soft drinks in several countries. It is the largest non-alcoholic beverage company in the Pacific Rim. in Sydney, Australia, He also previously served as president and chief executive officer of Coca-Cola Bottling S.A. in Paris, France. The company also announced its board of directors has approved an increase to $675 million in the amount of the company's common stock that may be repurchased by the company from time to time through December 30, 2007. This represents a $50 million increase in the previously authorized amount. The authorization includes both open market purchases as well as private transactions. To date, the company has repurchased $625 million of its stock since the inception of the repurchase program in 1999. As of February 22, 2007, the company had approximately 30.5 million shares of common stock outstanding on a fully diluted basis (approximately 29.9 million actual shares outstanding). As of December 31, 2006, there were 3,015 Papa John's restaurants (588 company-owned and 2,427 franchised) operating in 49 states and 29 international markets. For more information about the company, visit Papa John's at http://www.papajohns.com. |
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