Investor Backs Calls for Cracker Barrel CEO’s Ouster After Rebrand

Cracker Barrel Old Country Store is embroiled in a major corporate crisis. Its CEO, Julie Felss Masino, is facing intense pressure to be fired. The call comes from one of the chain’s largest investors following a disastrous rebranding attempt. The company was forced to reverse its new logo after widespread customer backlash.

According to reports, the situation has escalated significantly. A top shareholder is publicly demanding leadership change.

Top Investor Demands Leadership Change

Sardar Biglari leads the charge against the CEO. He is the CEO of Steak ‘n Shake and a major Cracker Barrel investor. Biglari owns nearly 10% of the restaurant chain’s outstanding shares.

He took to social media to voice his demands. Biglari posted a blunt “Fire Cracker Barrel CEO” message on X. He also mocked the rebranding controversy online. His posts included photos of red MAGA-style hats.

Biglari criticized the company’s management as “woke.” He stated they possess even less competence than their predecessors. In another post, he invoked a famous television catchphrase. He said the CEO needs to hear “You’re Fired” from her board.

This is not his first public criticism. Biglari warned the company about its strategy in a 2024 shareholder letter. He argued that changing the classic decor would not solve declining customer traffic.

Company Reverts Logo After Public Outcry

The investor fury follows a swift corporate reversal. Cracker Barrel confirmed it is returning to its old logo this week. The decision came after intense criticism from patrons and political figures.

The company addressed the public directly on its website. It thanked guests for sharing their voices and love for the brand. The new logo is being scrapped entirely. The classic “Old Timer” image will remain.

The original logo features an older man in overalls sitting next to a barrel. The words ‘Old Country Store’ complete the iconic design. Former President Donald Trump also commented on the situation. He urged the brand to admit its mistake and revert to the old logo on Truth Social.

He called customer response the “ultimate Poll.” The company’s stock price saw a rise after the reversal was announced. This ended more than a week of financial declines for the chain.

The future of Cracker Barrel’s leadership remains uncertain. The call to fire the CEO highlights deep investor discontent. The failed rebranding attempt has sparked a significant corporate governance challenge.

Must Know (FAQ Section)

Who is calling for the Cracker Barrel CEO to be fired?

Sardar Biglari, the CEO of Steak ‘n Shake, is leading the calls. He is one of Cracker Barrel’s largest investors, owning nearly a 10% stake in the company.

Why did Cracker Barrel change its logo back?

The company reverted to its old logo after massive customer criticism. The public outcry was strong enough that the company acknowledged the mistake and reversed course.

What did Donald Trump say about the rebranding?

Donald Trump advised Cracker Barrel to go back to the old logo. He stated on Truth Social that the company should admit the mistake based on customer response.

How did the stock market react to the news?

Cracker Barrel’s shares rose after the company announced it was reverting to the old logo. This followed over a week of declining share prices during the rebranding controversy.

Has the investor criticized Cracker Barrel before?

Yes. Sardar Biglari warned the company in a 2024 shareholder letter. He stated that changing its classic Americana aesthetic would not solve its core problems with declining traffic.

Trusted Sources: Reuters