Cracker Barrel CEO Julie Masino Steps Down, Replaced by David Deno
Julie Masino is stepping down as CEO of Cracker Barrel after making progress on the company's rebranding and improving financial performance. Her replacement will be David Deno, a former CEO of Bloomin' Brands (owner of Outback Steakhouse), who has experience in both finance and operations but also faced challenges during his tenure at that company. Deno’s appointment raises questions about Cracker Barrel’s strategy to attract younger customers while retaining its core demographic. The stock initially dropped 6% following the announcement, though some losses were later recovered. Masino's exit comes amid ongoing struggles with an aging customer base and a rebranding controversy last year that sparked backlash. Cracker Barrel is now on its second consecutive outsider CEO in quick succession, which has led to concerns about internal leadership development.
Topics: leadership change restaurant industry stock performance