Papa John's said Wednesday night that its board of directors has accepted the resignation of chairman John Schnatter, the founder of the pizza chain and its public face. Earlier Wednesday, Forbes reported that, during a conference call with a media company he'd hired to burnish his image, Schnatter used the N-word and brought up lynching. "News reports attributing the use of inappropriate and hurtful language to me during a media training session regarding race are true," Schnatter said in a statement. "Regardless of the context, I apologize. Simply stated, racism has no place in our society." Schnatter, 54, resigned as chief executive last year after saying the controversy over NFL players had hurt Papa John's shareholders, of which he remains the largest.

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