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[$$] Starboard CEO Jeffrey Smith Becomes Chairman of Papa John’s

Papa John’s International Inc. shares jumped Monday after activist investor Starboard Value LP said it would make a $200 million investment and its chief executive will become chairman of the pizza chain. Starboard, well known in the restaurant industry for its 2014 board coup at Olive Garden parent company Darden Restaurants Inc., has secured the board chairmanship for its CEO, Jeffrey Smith. It also obtained a board seat for Anthony Sanfilippo, former chairman and CEO of casino operator Pinnacle Entertainment Inc. Papa John’s CEO Steve Ritchie will join the board and remain the company’s CEO.