Cracker Barrel to Cover Former CEO’s Security Costs
Cracker Barrel is reportedly planning to take on security expenses for its outgoing CEO, Julie Fels Masino, alongside a substantial exit package. This decision follows a tumultuous attempt at rebranding last year that didn’t sit well with many customers.
The restaurant chain, known for its Southern fare, will continue to support Masino financially for an undisclosed duration after she steps down in October. Regulatory filings indicate that this support will last as long as the board considers it “reasonably necessary.”
Masino is set to leave her CEO position on August 10 but will stay on in an advisory capacity until later this fall. She is also expected to receive a severance package totaling $4.6 million across two years.
On another note, Cracker Barrel has attracted incoming CEO David Deno with an annual salary of $1 million and $465,000 for relocation to Nashville, Tennessee, including corporate housing. He is expected to commute back to his home in St. Petersburg, Florida, a couple of times each month for the next six months.
So far, Cracker Barrel hasn’t disclosed how much it has spent on Masino’s security.
The company is still dealing with the fallout from what many considered a misguided rebrand last August. Masino’s attempt to modernize its image by removing the iconic Uncle Herschel from the logo and changing restaurant aesthetics was met with significant backlash, even garnering disapproval from figures like former President Trump. This resulted in a notable decline in inventory and sales, which led the company to quickly reverse those changes.
It’s not everyday that CEOs receive indefinite security support after their departure, but recent violent events have escalated fears surrounding safety. Notably, there have been incidents like the fatal shooting of a UnitedHealthcare executive in Manhattan in 2024 and a mass shooting in July 2025 that claimed four lives.
Additional high-profile figures, including OpenAI’s CEO, have faced threats, prompting a broader discussion about security needs among executives. Dave Komendat, a former Boeing security chief, mentioned that his company is now evaluating security for firms that traditionally might not have seen the need.
As social media users criticized Cracker Barrel’s rebranding efforts, Masino faced personal criticisms regarding both his looks and his leadership, including calls for his ouster from an activist investor. Analysts expressed surprise at Masino’s exit as the company appears to be on the mend following its earlier struggles.
Komendat pointed out that it’s atypical for firms to fund security for a CEO post-termination, suggesting it likely became a negotiation point during Masino’s resignation process. In a somewhat similar case, Starbucks agreed to cover the security expenses for its former CEO Howard Schultz for up to ten years post-retirement.
As concerns surrounding safety escalate, more companies, particularly within the tech industry, are ramping up their security expenditures. For instance, Meta recently revealed it allocated $8.5 million for CEO Mark Zuckerberg’s security, while Oracle dedicated $5.6 million primarily for home security measures for their president, Larry Ellison.
Palantir Technologies noted a 150% hike in its security costs in 2025, nearing $3 million, and Salesforce’s security expenses also increased to about $4 million, marking a significant jump from the previous year.
