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Papa Johns Chief Financial Officer Ravi Thanawala is leaving the company to assume a CFO position at another public company.
The fast-food pizza chain has named Chris Collins, senior vice president of corporate finance and principal accounting officer, interim CFO, effective immediately. Collins joined Papa Johns in April 2021 and has over 30 years of experience leading finance functions at public companies.
“Chris is a proven finance leader with deep knowledge of the company and the opportunities we are pursuing to maximize shareholder value and position Papa Johns for its greatest success as the best pizza makers in the business,” CEO Todd Penegor said in a statement. “I am confident that Chris’s support in this interim role along with our talented team will enable continued execution on our transformation priorities.”
Collins joined Papa Johns as vice president, treasury and tax in April 2021 and previously served as the company’s interim CFO and principal accounting officer from March 2023 until July 2023, when Thanawala joined the company from Nike.
From July 2023 to July 2025, Collins served as VP of finance – treasury, tax, and international business segment. He was appointed SVP of corporate finance and principal accounting officer in July 2025.
Prior to joining Papa Johns, Collins served as the VP, treasury at Signet Jewelers from 2019 until 2020. Prior to 2019, he held several financial leadership roles with The Goodyear Tire & Rubber Company in the U.S. and Europe, and with American Axle & Manufacturing.
Also in connection with Thanawala’s departure, Marc Richard, SVP of North America Operations, has assumed responsibility for all North America operations, including those previously overseen by Thanawala in his role as president.
“On behalf of the Papa Johns team, I want to thank Ravi for his leadership and contributions to the Company. He has been a valued colleague, and we wish him all the best in his next chapter,” Penegor added.
Thanawala will be available to Papa Johns in an advisory capacity until July 31. Papa Johns has commenced a search for a permanent CFO.
This CFO transition comes as Papa Johns contends with negative sales trends, including -1% systemwide sales in 2025, according to Technomic, and -6.4% same-store sales in North America in Q1. It is not the only chain struggling; the pizza category was the only negative category for sales last year.
Contact Alicia Kelso at Alicia.Kelso@informa.com
Follow her on TikTok: @aliciakelso
