Overview
- The company announced on Monday that Julie Masino will step down as CEO on August 10 and remain as an adviser through October 9 while David Deno, former CEO of Bloomin’ Brands, takes the top job and joins the board.
- Masino’s tenure was defined by a 2025 modernization push that removed the decades‑old “Old Timer”/Uncle Herschel figure from the logo, drew widespread customer and political backlash, and led Cracker Barrel to quickly restore the original logo.
- The rebrand and its fallout hit the business: the company lost roughly $94–$100 million in market value in a short span and reported ongoing same‑store sales weakness, including a 1.8% decline in a recent fiscal quarter.
- To shore up results the company has cut costs and sold assets, including parting with the Maple Street Biscuit business and completing sale‑leaseback deals that generated roughly $77 million to pay down debt.
- David Deno brings long restaurant and retail experience and will be tasked with stabilizing traffic and sales, repairing customer trust, and executing the board’s plan to restore steady financial performance.