Cracker Barrel shareholders voted to keep CEO Julie Felss Masino despite backlash over a new logo hurting sales. Director Gilbert Davila resigned after shareholders rejected his reelection. Shareholder advisory firms recommended against Davila’s reelection. Activist investor Sardar Biglari pushed for Masino and Davila’s removal, owning 3% of Cracker Barrel’s shares.

Cracker Barrel thanked shareholders and pledged to focus on returning to sales growth. Shares fell 5.5% to $25.97, down 52% from the year’s start. Masino, hired in July 2023, aimed to attract new customers with menu updates and restaurant remodels. But a simplification of the logo without the classic mascot and store name sparked backlash from fans.

Read more at Yahoo Finance: Cracker Barrel shareholders vote to keep CEO despite logo debacle