Cracker Barrel CEO to step down after reversed rebranding effort
Julie Felss Masino will leave her role as chief executive of Cracker Barrel, with former Bloomin’ Brands CEO David Deno set to take over in August, following a failed brand redesign that was rolled back after customer backlash.
Cracker Barrel announced that CEO Julie Felss Masino will resign, remaining in an advisory capacity until October 9 to aid the transition. The board named David Deno, formerly head of Bloomin’ Brands, as her successor effective August 10. Shares fell 5.3% after the news.
Masino’s tenure saw a redesign of the chain’s restaurants and logo last August, which removed longtime symbols such as the Uncle Herschel mascot and introduced brighter interiors. The changes prompted strong negative reactions from regular patrons and public figures, leading the company to revert to its traditional branding. Following the reversal, the stock recovered and has risen markedly this year.
Analysts noted the departure was unexpected. Benchmark analyst Todd Brooks said the company had not indicated a leadership search, and Consumer Edge senior vice-president Michael Gunther observed that while losses were narrowing, sales momentum had not surged. He added that the chain’s core customer base, largely older diners, had stayed away during the redesign period.
The board’s decision comes after a year of mixed performance, including a shareholder vote that removed a diversity-focused marketing executive but retained Masino. The company had previously outlined a $700 million renovation plan for over 660 locations, aiming to attract new customers. After the redesign was rolled back, Cracker Barrel emphasized a focus on its food and traditional brand elements.