Cracker Barrel will replace its CEO after months of controversy over its 'woke' rebranding

The restaurant chain Cracker Barrel announced Monday that its CEO, Julie Masino, will step down on August 10 and will be replaced by David Deno. This is a leadership change that comes after a period marked by controversy surrounding the company's rebranding and a decline in sales and customer traffic.

According to Fox News, Masino will remain with the company as an advisor until October 9 to facilitate the transition.

"Following a robust and thoughtful search process, we are pleased to welcome David as Cracker Barrel's next CEO," said Carl Berquist, independent chairman of the company's Board of Directors.

"He brings decades of experience across the restaurant and retail industries, with a strong track record of leading businesses through growth and a demonstrated commitment to operational excellence, guest experience, and team member engagement," he added.

Berquist further stated, "We are confident David is the right leader to continue building on the Cracker Barrel legacy, drive further positive momentum operationally and financially, and create sustainable value for our shareholders."

For his part, Deno described Cracker Barrel as a "truly iconic American brand, defined by its unique combination of warm country hospitality, timeless appeal, and deep connection with guests across generations."

Masino's departure comes more than a year after Cracker Barrel launched a rebranding effort that sparked a strong reaction from its customers. The redesign replaced the traditional image of a man leaning on a barrel with a more minimalist logo featuring the company name and was accompanied by changes to the interior layout of its restaurants.

Following the announcement of the new design, Cracker Barrel's stock fell by $4.22, or 7.2%, to $54.80 per share, reducing the company's market value by approximately $94 million.

Amid the controversy, the company defended the redesign by stating that the man and the barrel in the old logo represented "the old-fashioned country store experience where people gathered and shared stories." It also stated that the traditional logo would remain in its restaurants and on its menus, adding that their "values haven't changed, and the heart and soul of Cracker Barrel haven't changed."

During that controversy, Masino defended the need to modernize the chain and went so far as to say that Cracker Barrel was "less relevant than before," while announcing plans to update the menu and the customer experience.