Departure Follows Rebrand Backlash That Cost the Company Its Original Logo
(UCBJ) – Cracker Barrel Old Country Store, Inc. (CB), headquartered in Lebanon with locations throughout the Upper Cumberland, is set to move forward without former President and Chief Executive Officer Julie Masino. Still, it will not come without a cost, according to a company filing with the Securities and Exchange Commission (SEC).
She is expected to receive a buyout severance package of $4.63 million.
The leadership change comes nearly one year after CB faced widespread customer backlash following Masino’s company rebranding effort, which drew criticism across social media, with many longtime customers objecting to the new look. Soon after, CB restored Uncle Herschel to its branding and parted ways with San Francisco-based marketing and consulting firm Prophet.
Former Bloomin’ Brands CEO David Deno will take her place “effective August 10, 2026,” according to the filing. Under an Employment Agreement, Deno is set to receive a base salary of $1,000,000 and an annual bonus with an initial target of 125% of base salary.
“The Employment Agreement provides that Mr. Deno will serve as the Company’s President and Chief Executive Officer from and after the Effective Date. The Employment Agreement further provides that Mr. Deno will be appointed to the Board as of the Effective Date and will be re-nominated by the Board for election at each annual meeting of the Company’s shareholders thereafter during his employment as Chief Executive Officer,” according to the filing.
He is not eligible for a bonus in fiscal year 2026, according to the report, but will be eligible for equity awards under the company’s long-term incentive program with an initial target of 360% of base salary. He will also receive a one-time sign-on award combining $200,000 in time-vesting restricted stock units and $200,000 in stock options.
CB disclosed the transition in a Form 8-K filed with the SEC on July 27, 2026.
“Masino will resign from the Board that same day but will stay on as an employee through October 9, 2026, to assist with the transition before departing the company,” according to the filing.
The agreement also outlines severance terms for Deno who, if terminated without cause or resigns “with Good Reason,” will receive twice his base salary and target bonus along with other bonuses and health and relocation benefits.
Cracker Barrel Image.
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