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    Ravi Thanawala

    CFO & EVP, International at Papa John's International Inc
    Since September 9, 2024
    Age
    40 years
    Education
    Graduated from the Stern School of Business at New York University with a Bachelor of Science in Finance and Policy Economics.
    Tenure
    Joined Papa John's on July 24, 2023 as CFO, served as interim CEO from March 2024 to August 2024, and was promoted to CFO & EVP, International on September 9, 2024.

    Also at Papa John's International Inc

    CMO
    Caroline M. Oyler
    Chief Legal & Risk Officer, Corporate Secretary
    JS
    Joseph Sieve
    Chief Restaurant and Global Development Officer
    KV
    Kevin Vasconi
    Chief Digital and Technology Officer

    About

    Ravi Thanawala is a seasoned financial executive with extensive experience in global operations and financial management. His career includes significant tenures at major firms like Nike, Inc.—where he held leadership roles across North America and international divisions—and ANN INC., where he oversaw finance and operations in Asia and global logistics.

    At Papa John’s, his rapid advancement is evident: starting as CFO in July 2023, he stepped in as interim CEO from March to August 2024, then was promoted to CFO & EVP, International in September 2024, reflecting his versatile leadership and strategic expertise.

    His work has been instrumental in driving financial stability and spearheading the company’s international market initiatives, further solidifying his reputation as a key executive in the organization during times of transition and growth.

    Past Roles

    OrganizationRoleDate RangeDetails
    Papa John’s InternationalInterim Chief Executive Officer (Interim CEO)Mar 20, 2024 – Aug 2024 Served as interim CEO following Robert M. Lynch's resignation until Todd Penegor's appointment
    Papa John’s InternationalChief Financial Officer (CFO)Jul 2023 – Sep 9, 2024 Held the CFO role before being promoted to CFO & EVP, International
    Nike, Inc.Chief Financial Officer of Nike North AmericaJun 2020 – Jul 2023 Managed financial operations for Nike North America
    Nike, Inc.Global Vice President & Chief Financial Officer of ConverseJun 2018 – Jun 2020 Oversaw Converse brand's franchise model and international business
    Nike, Inc.Global Vice President, Retail Excellence2016 – 2018 Led performance across business channels during a period of digital transformation
    ANN INC.Senior Vice President & Chief Financial Officer8 years Held additional finance leadership for LOFT and led Asia operations, global logistics, and international trade
    Ford Motor CompanyVarious Finance RolesN/A Supported mergers and acquisitions, global joint ventures, and treasury functions

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$675,000 AnnualIncreased due to promotion to CFO and EVP, International effective September 9, 2024
    Annual Cash Incentive Target$506,250 Annual75% of base salary
    Annual Long-Term Incentive Opportunity$1,500,000 AnnualIncreased due to promotion to CFO and EVP, International
    Interim CEO Base Salary Increase$805,000 For Interim CEO period starting March 20, 2024Interim base salary during his tenure as Interim CEO
    Interim CEO Target Annual Bonus Opportunity$1,006,250 Annual (Interim CEO period)125% of interim CEO base salary
    Interim CEO Time-Based Restricted Stock Grant$400,000 Vests on the second anniversary of grant dateTime-based restricted stock grant subject to continued service
    Sign-On Cash Bonus (2nd Installment)$412,500 Payable on one-year anniversary (July 24, 2024)Second installment of a $825,000 sign-on bonus

    Performance Compensation

    Data from  FY 2024

    Performance-Based Restricted Stock Units (Retention Award)

    MetricDetails
    Performance ComponentPerformance-Based Restricted Stock Units (RSUs)
    Grant DateJuly 17, 2024
    Grant Value$1,875,000
    Grant Date Stock Price$47.34 (30-day trailing average as of July 3, 2024)
    Number of Units Granted39,607 RSUs (calculated as $1,875,000 ÷ $47.34)
    Performance PeriodJuly 17, 2024 – July 17, 2027
    Stock Price HurdlesHurdle #1: $65.00 (30% of award earned, 37% appreciation); Hurdle #2: $75.00 (additional 30%, 58% appreciation); Hurdle #3: $85.00 (additional 40%, 80% appreciation)
    Performance ConditionAverage closing price must exceed the applicable hurdle for 30 consecutive trading days during the performance period
    Vesting ScheduleVest on July 17, 2028, contingent on achieving the stock price hurdles and continued service for four years from the grant date
    Valuation MethodGrant-date fair value determined using a Monte Carlo simulation model

    This performance award is designed to incentivize long-term stock price outperformance and align executive interests with those of stockholders.