On Wednesday, Forbes issued a report that Schnatter used the word during a May marketing call with company executives and a marketing firm called Laundry Service.
According to Forbes, the call between Schnatter and the marketing company was set up for Schnatter to engage in a “role-playing exercise” in which Schnatter would be trained to “prevent future public relations snafus” like the one in December that followed when he blamed the NFL kneeling protests for struggling third-quarter earnings in 2017.
Papa John’s issued a statement earlier on Wednesday, and didn’t deny that Schnatter had made the comments.
According to CNBC, Schnatter apologized Wednesday, saying, “News reports attributing the use of inappropriate and hurtful language to me during a media training session regarding race are true.
Despite his apology, CNBC reported that Papa John’s stocks took a tumble and slid 5.9 percent after the news.