CBRL names David Deno as new CEO following $700 million rebranding controversy, replacing Julie Masino who exits the board.
Cracker Barrel Old Country Store (NASDAQ:CBRL) appointed David Deno as CEO, replacing Julie Masino, who will step down from the board but remain in an advisory role through October. Shares fell nearly 5% in morning trading following the announcement.
The leadership transition follows a $700 million rebranding effort last year, which included a new logo that sparked criticism from conservative figures. The redesign replaced the company’s long-standing “Old Timer” mascot with a simplified text-based logo.
Deno, a veteran of the restaurant and retail industries, emphasized the brand’s “warm country hospitality” and guest connections in his statement. The board praised his track record in operational excellence and growth leadership.