Sign in

    Todd A. Penegor

    President and CEO at Papa John's International Inc
    Since July 31, 2024
    Age
    59 years
    Education
    Holds a Bachelor of Arts in Accounting and a Master of Business Administration in Finance from Michigan State University.
    Tenure
    Began serving as President and CEO at Papa John’s International, Inc. on 07-31-2024, following a notable career with leadership roles at Wendy’s Company, Kellogg Company, and Ford Motor Company.

    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

    Todd A. Penegor is the current President and CEO of Papa John’s International, Inc., having assumed leadership on 07-31-2024. Born in 1965 and now 59 years old, he brings over two decades of experience in the quick-service restaurant and consumer goods sectors.

    Before joining Papa John’s, he held pivotal roles including CEO at Wendy’s Company from 2016 to February 2024, where he propelled the company to expand its footprint to over 7,000 restaurants worldwide while achieving 12 consecutive years of same-restaurant sales growth. His earlier tenures at Kellogg Company and Ford Motor Company further established his expertise in financial strategy, mergers and acquisitions, and global operations.

    Beyond his executive leadership, he contributes significantly as a board member for prominent organizations such as Ball Corporation and Dutch Bros Inc., underscoring his broad influence in the industry. With a robust academic background from Michigan State University, his career is distinguished by a consistent commitment to strategic growth, operational excellence, and transformative leadership.

    $PZZA Performance Under Todd A. Penegor

    Past Roles

    OrganizationRoleDate RangeDetails
    The Wendy's Company President and Chief Executive Officer 2016 – February 2024 Oversaw substantial growth in sales, earnings and restaurant count; expanded footprint to over 7,000 restaurants worldwide; achieved 12 consecutive years of same-restaurant sales growth
    The Wendy's Company Chief Financial Officer 2013 – 2016 Held financial leadership responsibilities
    Kellogg Company Vice President of Kellogg Company and President of U.S. Snacks 2009 – 2013 N/A
    Kellogg Company Vice President and Chief Financial Officer of Kellogg Europe 2007 – 2009 N/A
    Kellogg Company Vice President and Chief Financial Officer of Kellogg USA and Kellogg Snacks 2002 – 2007 N/A
    Kellogg Company Vice President, Global Financial Planning and Strategy 2000 – 2013 N/A
    Ford Motor Company Various finance positions (strategy, mergers & acquisitions, controller’s office, treasury) 1989 – 2000 N/A

    External Roles

    OrganizationRoleDate Range
    Ball Corporation Board of Directors 2019 – Present
    Dutch Bros Inc. Board of Directors 2024 – Present

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Annual Base Salary$1,000,000 per year Annually (per employment agreement) Minimum base salary; future increases at the discretion of the Compensation Committee
    Sign-On Compensation$1.25 million in restricted stock Granted on July 31, 2024 Restricted stock vests one-third on each anniversary of the grant date
    Relocation Benefits$150,000 At time of relocationCovers relocation and moving expenses; grossed-up for applicable taxes

    Performance Compensation

    Data from  FY 2024

    Annual Cash Incentive Opportunity

    MetricDetail
    Target Amount$1,000,000 (150% of base salary)
    Performance MetricsNot specified
    Thresholds/TargetsNot provided
    Vesting ScheduleN/A
    Evaluation PeriodN/A

    Cash Transition Bonus

    MetricDetail
    Bonus Amount$250,000
    ConditionsContinued employment through December 31, 2024; achievement of non-financial performance objectives
    Payment TimingLump sum payment after December 31, 2024

    Annual Equity Awards

    MetricDetail
    Target Grant-Date Fair Value$5 million total; pro-rated to $2.5 million for 2024
    Performance MetricsTotal Shareholder Return (TSR) relative to a predetermined peer group; Cumulative system-wide sales for fiscal years 2024-2026
    Thresholds/TargetsNot specified
    Vesting ScheduleGenerally 3-year cliff vesting for performance-based RSUs; additional one-time awards have a 4-year cliff vesting subject to stock price hurdles
    Evaluation PeriodFiscal years 2024-2026 for the cumulative system-wide sales metric
    Additional DetailsTSR metric fair value determined via a Monte Carlo simulation model; cumulative sales metric set at the grant date stock price