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Get filing alertsCracker Barrel replaces CEO Julie Masino with Bloomin' Brands veteran David Deno
Filed July 27, 2026 · Period ending July 26, 2026 · ~1 min read
Key Changes
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Julie Masino steps down as CEO and board member effective August 10, 2026, remaining in advisory role through October 9 to assist transition. David Deno, former Bloomin' Brands CEO (2019-2024), assumes CEO role and joins board on August 10.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Deno brings 40+ years restaurant experience including CEO tenure at Bloomin' Brands where he strengthened financials and expanded international presence, plus CFO role through its IPO (2012-2019) and senior positions at Yum! Brands and Pizza Hut.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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New CEO compensation: $1M base salary, 125% target bonus (not eligible fiscal 2026), 360% equity target. One-time sign-on of $400K in RSUs and stock options vesting after three years.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Deno severance: if terminated without cause or resigns for good reason, receives 2x base plus target bonus, prorated annual bonus on actual performance, and 24 months COBRA costs.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Masino receives separation payments and equity treatment consistent with termination without cause under her July 2023 employment agreement.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
Summary
Cracker Barrel is executing a CEO transition, with Julie Masino stepping down effective August 10, 2026 after three years in the role. The board selected David Deno, 69, to succeed her following what it described as a comprehensive search process.
Deno most recently led Bloomin' Brands (Outback Steakhouse, Carrabba's) as CEO from 2019 to 2024, and previously served as its CFO from 2012 to 2019, guiding the company through its IPO. His multi-decade restaurant career also includes senior operational and financial roles at Yum! Brands, Pizza Hut, and Best Buy's international division.
For retail holders, the key question is whether Deno can reverse Cracker Barrel's recent operational challenges. The board emphasized his track record in operational excellence and guest experience, suggesting the appointment targets execution improvement. Masino will remain in an advisory capacity through early October to support the handoff. The transition appears orderly—Masino's separation follows her existing employment agreement terms, and Deno's compensation package (including a $1M base and equity targets totaling 4.6x salary) aligns with peer casual dining CEO structures. The board's statement that Deno is positioned to "drive operational and financial momentum" signals expectations for near-term performance improvement under the new leadership.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
Julie Masino, the Company’s President and Chief Executive Officer, will step down from that role effective August 10, 2026 (the “Effective Date”), when David Deno, will assume the role of President and Chief Executive Officer and will join the Company’s Board of Directors (the “Board”). Ms. Masino will resign from the Board on the Effective Date contemporaneously with stepping down from the role of President and Chief Executive Officer, but will remain an employee of the Company until October 9, 2026 to assist with the leadership transition to Mr. Deno, after which time she will depart the Company.
Cracker Barrel's current CEO Julie Masino will step down effective August 10, 2026, and will be replaced by David Deno, who will become President and CEO and join the Board on that date. Masino will remain as an employee through October 9, 2026 to assist with the transition before departing the company entirely.
Added in current filing · verify on EDGAR →
If Mr. Deno’s employment is terminated by the Company without Cause or by Mr. Deno with Good Reason, the Employment Agreement provides that, in addition to the Accrued Amounts, Mr. Deno will be entitled to:
· an amount equal to two (2) times the sum of the Base Salary as in effect on the date Mr. Deno’s employment is terminated and Mr. Deno’s annual cash target-level incentive bonus;
· a prorated portion of Mr. Deno’s annual cash incentive bonus for the fiscal year in which such termination occurs, based on the number of calendar days elapsed prior to such termination and the Company’s actual performance for such fiscal year; and
· a lump-sum payment in an amount equal to the costs of continued health benefits under COBRA for a period of 24 months.
If Deno is terminated without cause or resigns for good reason, he will receive two times his base salary plus target bonus, a prorated annual bonus based on actual performance, and 24 months of COBRA health benefit costs. Additional equity vesting provisions apply depending on timing and circumstances of termination.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
David Deno has been appointed to serve as the Company’s next Chief Executive Officer and will join the Board of Directors (the “Board”), both effective August 10, 2026. He succeeds Julie Masino, who will step down as Chief Executive Officer and a member of the Board effective as of the same date. Ms. Masino will remain with the Company in an advisory capacity until October 9, 2026 to support a smooth transition.
Cracker Barrel is replacing its CEO. David Deno, former CEO of Bloomin' Brands with over 40 years of restaurant and retail experience, will become CEO and join the board on August 10, 2026. Julie Masino is stepping down from both CEO and board positions on the same date but will stay in an advisory role through October 9, 2026 to facilitate the transition.
Added in current filing · view on EDGAR →
Most recently, he served as Chief Executive Officer of Bloomin’ Brands (Nasdaq: BLMN) from 2019 to 2024, where he strengthened its financial foundation and expanded its international presence. Prior to being named CEO, he served as Bloomin’ Brands Executive Vice President and Chief Financial Officer from 2012 to 2019, leading the company through its initial public offering.
David Deno brings extensive restaurant industry experience, most recently leading Bloomin' Brands as CEO from 2019 to 2024 and previously serving as its CFO from 2012 to 2019, including through its IPO. He also held senior roles at Best Buy, Yum! Brands, Pizza Hut, and Burger King, and currently serves on the boards of Krispy Kreme and Panera Brands.
Added in current filing · view on EDGAR →
Following a robust and thoughtful search process, we are pleased to welcome David as Cracker Barrel’s next CEO. He brings decades of experience across the restaurant and retail industries, with a strong track record of leading businesses through growth and a demonstrated commitment to operational excellence, guest experience, and team member engagement.
The board's independent chairman emphasized that Deno was selected after a comprehensive search process and expressed confidence that he is the right leader to drive operational and financial momentum and create sustainable shareholder value. The board also thanked Masino for her leadership and partnership in ensuring a smooth transition.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 27, 2026 · How we verify