Cracker Barrel’s CEO dismissed warnings from a top investor who called the rebranding ‘obvious folly’

Cracker Barrel’s slide into a rebranding debacle began with a phone call at 4:30 p.m. on May 16, 2024.That day, Cracker Barrel’s new CEO, Julie Felss Masino got on the phone with investors and unveiled the details of a "strategic transformation plan" her board of directors had approved. The first of "five pillars" in the plan would be "refining" and "evolving the brand across all touchpoints." Over the next months, Masino and her board of directors dismissed at least four warnings by a top investor, Sardar Biglari, that the rebranding was "obvious folly," filings with the Securities and Exchan