Investment Thesis
Papa John's International, Inc. (PZZA) dropped more than a quarter in 2018, after a period of negative publicity hurt its same-store sales and margins. Following its investment in 2018 February, the hedge fund, Starboard Value has brought about a series of noteworthy changes, the latest of which is the appointment of the new CEO. The industry veteran joins from Arby’s where his unconventional marketing strategies helped the fast-food chain outperform even the established players in the market.
Similarly, Chipotle Mexican Grill, Inc. (CMG) in 2018 February witnessed a well-respected