Look out for 'Shaq-aroni pizza,' an XL pizza with extra pepperoni and cheese, from Papa John's. 👀
Papa John's announced Friday that Shaquille O'Neal will be its newest board member and the new face of the brand as the struggling pizza chain tries to improve its image with U.S. consumers.
O'Neal, who initially approached Papa John's, will serve as the board's first African American director, as well as an investor in nine Papa John's restaurants in Atlanta. Over time, customers may see him endorsing the brand in commercials, as well as social and digital integrations. The three-year endorsement deal will net him $8.25 million, paid half in cash and half in Papa John's stock. That's on top of the $5.8 million on reimaging costs that the chain spent last year. Because of O'Neal's role as an endorser and franchisee, Papa John's does not expect that he will be considered an independent director under Nasdaq rules.
"I don't think he's seen as a sell-out. He's got the trust, certainly with millennials and certainly with African Americans," he said.
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