Overview
- CEO Julie Felss Masino won reelection to the board at the Nov. 20 annual meeting, despite an activist campaign to remove her.
- Independent director Gilbert Dávila resigned after preliminary results showed he failed to win reelection, leaving the board at nine members.
- Proxy advisors ISS and Glass Lewis had urged votes against Dávila over oversight of marketing and the failed brand update.
- Activist investor Sardar Biglari, who holds roughly 3% of shares, scored a partial victory with Dávila’s exit but did not unseat the CEO.
- Cracker Barrel previously reinstated its classic logo, suspended remodels, and forecast traffic declines of 7–8% for fiscal Q1 and 4–7% for fiscal 2026.