Cracker Barrel to Continue Paying Security for Departing CEO

Cracker Barrel announced that it will maintain personal security expenses for outgoing chief executive Julie Masino after her planned departure in October, according to a recent regulatory filing. The company said the protection will be provided for an "undetermined stretch of time," a practice described by Bloomberg as unusual.

The decision follows a period of intense criticism of Masino’s brief attempt to rebrand the restaurant chain, which attracted accusations of being "woke" and led to personal attacks against her. Industry analysts note that such security arrangements are becoming more common. Data from Equilar indicate that median spending on CEO security at S&P 500 firms has more than tripled since 2021, reaching about $136,000, and roughly 40% of companies now disclose these benefits.

Recent incidents of violence against corporate leaders, including the 2024 fatal shooting of UnitedHealth CEO Brian Thompson and an attempted firebombing of OpenAI CEO Sam Altman's home, have heightened concerns about executive safety. Some firms allocate substantially larger sums; for example, Meta spent $8.5 million on Mark Zuckerberg's security last year.

"It was probably a negotiating point, something that she was asking for as part of agreeing to step down," said a compensation consultant familiar with Masino's extended coverage.

The move underscores a broader shift toward more robust protection measures for top executives across various industries.