Overview
- Shareholders voted to retain CEO Julie Felss Masino, according to preliminary results from the Nov. 20 annual meeting.
- Independent director Gilbert Dávila failed to win reelection and resigned, reducing the board to nine members.
- Proxy advisers ISS and Glass Lewis urged votes against Dávila, while activist investor Sardar Biglari campaigned to remove both Dávila and Masino and holds roughly 3% of the shares.
- Following customer backlash to an August logo change and test remodels, Cracker Barrel reinstated its classic logo within a week and suspended remodels in September, issuing a public apology.
- The company has guided to lower traffic—down about 7%–8% in fiscal Q1 and 4%–7% for fiscal 2026—as it works to repair performance and credibility with investors and customers.