Dive Brief:
- Cracker Barrel has appointed Julie Felss Masino as its president and CEO, succeeding Sandra Cochran, the company said in a press release Tuesday.
- Masino will assume the role of CEO-elect on Aug. 7 and work with Cochran through October, becoming president and CEO on Nov. 1.
- Cochran, who has worked as president and CEO at the company since September 2011, will serve as executive chair of the board through September 2024.
Dive Insight:
As CEO, Cochran oversaw Cracker Barrel’s 2019 acquisition of Maple Street Biscuit Company for $36 million, and helped navigate the company through the COVID-19 pandemic.
The company posted same-store sales declines of 39.2% during the company’s fiscal Q4 2020. Cracker Barrel’s pandemic fortunes reached their nadir in that quarter, with revenue falling to $495 million. In its most recent quarter (Q3 2023) revenue reached nearly $833 million, and Cracker Barrel’s restaurant same-store sales were up 7.4% compared to the same period in 2022.
The company has ongoing initiatives intended to improve staffing and retention, catering and cost savings. Cracker Barrel is in the midst of testing a beta loyalty program, which the company expects to help boost frequency and brand loyalty.
Cochran originally joined Cracker Barrel in 2009 as EVP and CFO and was later named president and COO November 2010.
Masino has about two decades of experience working with restaurant companies, most recently serving as Taco Bell International president for over three years. In that role she oversaw the growth of the division to over 1,000 restaurants across 32 countries, according to the press release. She also spent two years as the chain’s North America president, according to her LinkedIn profile. While at Taco Bell, she partnered with franchisees and teams to open over 800 new units across the U.S. and internationally.
Most of Masino’s restaurant career was spent at Starbucks, where she held several positions over 12 years. Her roles included interim CMO of Starbucks China, VP of strategy Americas and EMEA, VP of global beverage and VP of global merchandise and packaged food. She spent her early career with various retail companies including Godiva, Coach, J. Crew and Macy’s.
“Julie brings a wealth of experience and an innovative spirit to Cracker Barrel and Maple Street,” Cochran said in a statement. “I look forward to seeing her and the team build on our legacy and carve new paths for growth as they leverage and continue our investments in technology, loyalty, and the employee and guest experience.”
