Cracker Barrel stock falls after David Deno replaces Julie Masino as CEO

Cracker Barrel's stock fell over 3% after CEO Julie Masino stepped down, replaced by former Bloomin' Brands CEO David Deno.

Masino will stay as an adviser until October 9 to ensure a smooth leadership transition.

Deno, previously CEO of Bloomin' Brands (Outback Steakhouse, Carrabba's Italian Grill), was appointed CEO and board member.

Chairman Carl Berquist cited Deno's experience in leading businesses through growth and operational excellence.

Deno aims to unlock Cracker Barrel's potential by focusing on delicious food and guest experience.