The call between PJ's executives and a marketing agency was a role-playing exercise designed for Schnatter to prevent another PR disaster for the company. It went as well as expected. Schantter was asked how he would deal with racist groups online and responded by stating that "Colonel Sanders called blacks [the n-word]" and when he lived in Indiana as a child he saw people drag blacks from trucks until they died. Soon after the call ended, the marketing agency terminated its contract with PJ.
Back in January, Schnatter stepped down as CEO after slamming the NFL protests, claiming that lack of leadership was hurting sales. His comments caused an immediate 11% drop in the companies stock (which has now grown to 25%). The companies stock has already dropped another 4% after this story was released.