Cracker Barrel Old Country Store (CBRL) has released an update.
Cracker Barrel has mutually agreed with its Executive Chair, Sandra B. Cochran, to end her employment agreement and expedite her retirement as of February 22, 2024. Following her departure, Carl T. Berquist has been named the independent Chairman of the Board, and the Board size has been reduced. This move recognizes Cochran’s success in transitioning her role to her successor and her contributions to the company over twelve years. Her exit is amicable, with no disagreements, and her retirement benefits will proceed as outlined, without acceleration of cash or equity payments.
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