Earnings
Home›Earnings›Previews›Cracker Barrel CEO Julie Masino to step down in August
Cracker Barrel CEO Julie Masino to step down in August
Cracker Barrel said Julie Masino will exit in August, with David Deno, formerly of Bloomin' Brands, taking over and a departure package estimated at $4.6 million.
Cracker Barrel said its chief executive Julie Masino will leave in August, about a year after the company drew widespread customer backlash over a controversial rebrand. The restaurant chain named David Deno, previously CEO of Bloomin' Brands, as the incoming leader, according to the company announcement and its 8-K filing covered by BBC Business.
BBC Business reports that the rebrand sparked a national controversy, with critics including U.S. President Trump urging the chain to restore its original logo after some accused it of abandoning its heritage. The change was followed by resistance from loyal diners who argued the update removed the brand's nostalgic feel.
The outlet said Masino did not comment on her resignation, while Cracker Barrel thanked her for her tenure. BBC Business added that the CEO is set to receive an estimated $4.6 million as part of the departure package, citing the company’s 8-K filing.
BBC Business also linked the leadership change to a turbulent operating period, including sales and customer traffic struggles. Shares fell more than 2% after Monday’s announcement, and the chain operates nearly 660 locations across 44 U.S. states.