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Cracker Barrel CEO stepped down after redesign sparked backlash
The overhaul included spending $700 million and followed a stock drop of 12% on the revamp controversy.
Cracker Barrel’s CEO Julie Masino has stepped down after a brand overhaul that drew fast backlash, the New York Times reports, citing the company’s own recent statements. Masino took over as chief executive officer in 2023 and, last summer, introduced a new logo, menu, and overall look that removed the Old Timer character and a barrel from the logo. The change triggered an online outcry that carried over to markets, with Cracker Barrel stock falling 12% in a single day, a decline described as equivalent to about $94 million.
The company also spent $700 million to bring the revamp to fruition. In the July 27 press release announcing the transition, Masino was reported to be leaving with a $4.6 million exit package, and David Deno, formerly of Bloomin’ Brands, was named as her successor.
In the same announcement, Deno said Cracker Barrel’s iconic status is defined by its combination of warm country hospitality, timeless appeal, and a deep connection with guests across generations, according to the outlet.