Julie Masino is calling it quits as CEO of Cracker Barrel after a year defined by a rebrand gone wrong. Masino took over in 2023 and pushed a modernization plan, including dropping the chain’s “old timer” logo, which featured an old man leaning against a barrel.
The redesign triggered a fierce backlash last summer, with critics on the right calling the changes “woke.” Foot traffic and revenue slumped, and Cracker Barrel’s stock lost more than half its value before the company reverted to its old logo and scrapped remodeling plans.
Masino survived an activist investor challenge in November, when shareholders voted to keep her despite the controversy. Cracker Barrel’s stock has since recovered, and the chain posted better-than-expected revenue last quarter, raising its full-year outlook. But that wasn’t enough to keep her beside the barrel. Neither Masino or Cracker Barrel offered an explanation for the timing.
Julie Masino is calling it quits as CEO of Cracker Barrel after a year defined by a rebrand gone wrong. Masino took over in 2023 and pushed a modernization plan, including dropping the chain’s “old timer” logo, which featured an old man leaning against a barrel.
The redesign triggered a fierce backlash last summer, with critics on the right calling the changes “woke.” Foot traffic and revenue slumped, and Cracker Barrel’s stock lost more than half its value before the company reverted to its old logo and scrapped remodeling plans.
Masino survived an activist investor challenge in November, when shareholders voted to keep her despite the controversy. Cracker Barrel’s stock has since recovered, and the chain posted better-than-expected revenue last quarter, raising its full-year outlook. But that wasn’t enough to keep her beside the barrel. Neither Masino or Cracker Barrel offered an explanation for the timing.