Ann Gugino has stepped down as chief financial officer for Papa Johns International but will remain in a transitionary role until March 31, Nation’s Restaurant News (NRN) has reported.
Chris Collins, the chain’s vice president of treasury and tax, will step into the position as interim CFO, according to NRN.
Gugino was named CFO on October 5, 2020. She joined Papa Johns from the Target Corporation. As a key member of the pizza chain’s executive leadership team, her job was to help build and implement Papa Johns’ long-term plans for profitable growth and shareholder value creation.
“This spring I will be wrapping up my time at Papa Johns,” Gugino stated in a LinkedIn post on March 22. “When I joined this company, it was near the beginning of an effort to turn the company around and put it on a stronger path for growth. This opportunity gave me the chance not only to bring forward my breadth of financial experience but also to work together as a finance team to further build and strengthen the function.”
“Of course,” she added, “I am gratified that Papa Johns is in a fundamentally stronger position today but especially proud of our team’s role in making that happen. I also feel blessed for the friendships I made along the way.”
At the time of Gugino’s appointment as CFO, Papa Johns President/CEO Rob Lynch described her as “a proven leader and change agent who brings deep experience in the consumer and retail sector, including driving demand and profitability across digital and traditional commerce at Target.”
During Gugino’s tenure, Papa Johns saw a significant jump in same-store sales and introduced a number of new menu items. The chain’s same-store sales rose 26% on a three-year basis, although the company reported only a 1% increase in same-store sales for the fourth quarter of 2022 compared to the previous quarter.