Cracker Barrel's stock surged Tuesday, in the wake of the Tennessee-based restaurant chain saying CEO Sandra Cochran was stepping down after a dozen years.
Cracker Barrel Old Country Store Inc. investors were enjoying their best day in six months on Tuesday, in the wake of the Tennessee-based family restaurant chain’s announcement that it was making a leadership change.
The company CBRL said before the open that Chief Executive Officer Sandra Cochran will be stepping down after 12 years in charge. She will be succeeded as CEO by Julie Felss Masino, effective Nov. 1 after a transition period. “Today’s announcement represents the culmination of a multi-year CEO succession-planning process by our Board of Directors and Sandy, and we are thrilled to welcome Julie to the head of the Cracker Barrel table,” said current Chairman William McCarten.
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