Cracker Barrel Old Country Store announced on Monday that Chief Executive Officer Julie Masino will step down on August 10, with former Bloomin' Brands chief David Deno appointed as her successor.
Masino, who took the helm in 2023 after leading Taco Bell's international operations, will remain with the restaurant chain in an advisory capacity until October 9 to assist with the leadership transition.
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The executive change follows a tumultuous period marked by a controversial rebranding campaign last summer, which involved removing the classic logo character and decluttering store interiors as part of a $700 million overhaul across its 660-plus locations.
Public backlash over the design changes erased nearly $100 million in market value, forcing the company to reverse course within a week, while subsequent earnings reports revealed declining quarterly revenue and sales slumps.
To reduce debt and improve profitability, Cracker Barrel recently sold its Maple Street business to Biscuit Belly LLC, closed 16 locations, and completed a $77 million sale-leaseback transaction involving 26 company-owned properties.
Deno brings over four decades of industry experience, including previous executive roles at Yum!
Brands, Best Buy, and Burger King, alongside current board positions at Krispy Kreme and Panera Brands.
"Following a robust and thoughtful search process, we are pleased to welcome David as Cracker Barrel's next CEO," said Carl Berquist, independent Chairman of the Cracker Barrel Board.
Berquist highlighted Deno's track record of operational leadership across the retail and dining sectors.
