Aided by Ms. Masino’s fresh perspectives on the business, your Board and leadership team undertook an intensive review of the Company’s strategy and brand position.
The leadership team, with the Board’s unanimous support, leveraged these important insights to develop a long-term strategic transformation plan that honors what guests love about Cracker Barrel, while opening the door to a new community of guests. We believe this plan will restore Cracker Barrel to a position of industry leadership.
Additionally, Jody Bilney, an independent director and one of Mr. Biglari’s former nominees, enthusiastically supports our transformation plan and the investments needed to make it a reality.
The Board recruited and appointed Julie Masino as President and CEO in November 2023. She brings 30+ years of experience driving innovation and growth for globally loved and recognized restaurant and retail brands.
As President, International of Taco Bell, she led the expansion of the division to over 1,000 restaurants in 32 countries.
Previously, as North America President of Taco Bell, she delivered eight consecutive quarters of positive comp growth while launching culinary, technology, and business model innovations.
She brings other valuable leadership and consumer brand experience, having served earlier in her career as CEO of Sprinkles Cupcakes, as GM of Fisher-Price at Mattel, and in various leadership roles at Starbucks.
Following her appointment, Ms. Masino acted quickly to bolster the Company’s leadership team, adding top-notch executives with relevant skillsets and passion for our brand, including Chris Edwards as Chief Strategy Officer and Sarah Moore as Chief Marketing Officer. Our strengthened leadership team is executing with urgency to address areas of opportunity, while leveraging the Company’s rich culture and brand affinity.