Cracker Barrel CEO Steps Down as David Deno Named

Cracker Barrel Old Country Store Inc. (CBRL) said on July 27, 2026, that Chief Executive Julie Masino will step down on August 10 and be succeeded by David Deno. Masino will remain through October 9 to advise the transition. Shares fell in early trading.

CEO Succession and Governance

David Deno will become President and CEO and join Cracker Barrel’s board on August 10. Masino will resign as CEO and from the board on that date but stay employed through October 9 to support the transition. The company said the appointment followed a comprehensive succession-planning and search process. Its Form 8-K filing stated Masino’s board resignation was not due to any disagreement with the company.

Compensation and Background

Deno signed an employment agreement on July 26 that sets a $1 million base salary, a 125% annual bonus target, a 360% long-term equity incentive target, and a one-time sign-on award of $200,000 in restricted stock units plus $200,000 in stock options. Under the agreement, he is not eligible for a bonus for fiscal 2026. Deno served as CEO of Bloomin’ Brands from April 2019 to September 2024 and was that company’s chief financial and administrative officer from 2012 to 2019.

Market Reaction and Guidance

The stock fell in early trading after the announcement, with declines described as roughly 3% to nearly 5%. The press release and Form 8-K did not include new operational guidance. The combination of a board-approved succession, the new CEO’s equity-heavy incentive package, and the absence of fresh guidance, along with the negative early trading reaction, focuses investor attention on how the new leadership will manage near-term operations.