Papa Murphy’s CEO Ken Calwell resigns
Papa Murphy’s Holdings Inc. CEO Ken Calwell has resigned, the company said Thursday. The company has named chairman Jean Birch as interim CEO as it starts to search for a permanent replacement.
The move comes amid same-store sales challenges at the Vancouver, Wash.-based take-and-bake pizza chain. Same-store sales fell 5.3 percent in the third quarter ended Sept. 26, and the company’s stock price fell 62 percent in 2016 — among the worst performances of the year for publicly traded restaurant companies.
“While the general climate in the quarter continued to be challenging, we believe we are at a key inflection