Cracker Barrel's disastrous rebrand, later to be reversed, appears to have cost the company's CEO her job.
The restaurant announced Monday that CEO Julie Masino is stepping down after a turbulent three-year tenure marked by a modernization campaign that sparked backlash from longtime customers, drew criticism from President Donald Trump, and ultimately forced the company to reverse course.
Masino will be replaced Aug. 10 by David Deno, the former CEO of Bloomin' Brands, parent company of Outback Steakhouse.
Deno, a restaurant industry veteran with four decades of experience, will also join Cracker Barrel's board.
Masino will remain in an advisory role through Oct. 9 to assist with the leadership transition.
The leadership shakeup comes nearly a year after Cracker Barrel's effort to modernize its iconic image ignited a firestorm among its traditionally conservative customer base.
The New York Post reported Masino's departure followed the collapse of the chain's woke rebranding initiative, which removed the familiar Uncle Herschel mascot from the company's logo, brightened restaurants, reduced the signature antique decor, and sought to appeal to younger diners.
The backlash prompted the company to abandon many of the changes within days.
The company's redesigned logo erased the familiar "Old Timer" imagery that had symbolized Cracker Barrel for decades.
The rollout wiped $94 million off the company's market value in a single trading day as shares plunged more than 7%, while critics accused management of abandoning the chain's Americana roots.
Trump became one of the most prominent critics of the rebrand, urging Cracker Barrel to restore its classic logo and embrace the heritage that had made the restaurant chain successful.
Cracker Barrel reversed course after widespread customer backlash and a conversation with the White House.
Deputy White House chief of staff Taylor Budowich said company executives thanked Trump for weighing in after he urged them to return to the original design.
"Cracker Barrel should go back to the old logo, admit a mistake based on customer response (the ultimate poll), and manage the company better than ever before," Trump wrote at the time.
The return of the classic branding sent the company's stock sharply higher.
Cracker Barrel later removed references to LGBTQ Pride activities and diversity, equity, and inclusion initiatives from its website, saying it was eliminating outdated content while shifting its charitable focus toward fighting food insecurity and supporting local communities.
The Wall Street Journal reported Masino ultimately abandoned many of her original turnaround plans, restoring popular menu items, halting restaurant remodeling efforts, and refocusing on Cracker Barrel's loyal customer base after activist investor Sardar Biglari launched a campaign to remove her.
Although the company recently reported improved earnings and a stronger outlook, the board has turned to Deno to continue rebuilding one of America's best-known restaurant brands.