Story perspectives

Biglari Targets Cracker Barrel Leadership Amid Stock Decline

9/20/2025

33 4

Summary

Story summary

Sardar Biglari, owner of Steak ‘n Shake, is pushing to remove Cracker Barrel CEO Julie Masino and Compensation Committee Chair Gilbert Dávila, citing damage to shareholder value.
He holds 2.9% of Cracker Barrel's stock and has made similar attempts in the past.
Cracker Barrel's recent logo change led to an 8% drop in customer traffic and a 23% decline in stock.
In response to backlash, Cracker Barrel reverted to its original logo and halted remodeling plans.
Despite traffic declines, the CFO reported a 4.4% revenue increase.

1 of 1

Story summary

Sardar Biglari, owner of Steak ‘n Shake, is pushing to remove Cracker Barrel CEO Julie Masino and Compensation Committee Chair Gilbert Dávila, citing damage to shareholder value.
He holds 2.9% of Cracker Barrel's stock and has made similar attempts in the past.
Cracker Barrel's recent logo change led to an 8% drop in customer traffic and a 23% decline in stock.
In response to backlash, Cracker Barrel reverted to its original logo and halted remodeling plans.
Despite traffic declines, the CFO reported a 4.4% revenue increase.