Cracker Barrel Shareholders Revolt as DEI Chief Targeted After Rebrand Disaster

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The fallout from the Cracker Barrel rebrand attempt debacle continues, and it’s centering on DEI.

During the yearly shareholder meeting on November 20, 2025, two influential groups that advise investors—Glass Lewis and Institutional Shareholder Services—are recommending that shareholders vote against a leading executive at Cracker Barrel. Interestingly, the call for a vote isn’t directed at CEO Julie Felss Masino, who faced most of the blame for the company’s recent rebranding effort.

They are instead urging shareholders to vote against the re-election of Gilbert Dávila.

Who is Gilbert Dávila?

According to Cracker Barrel’s website, Mr. Dávila has been the President and CEO of DMI Consulting since 2010. DMI Consulting is a prominent U.S. firm specializing in multicultural marketing, diversity and inclusion, and strategic planning.

Dávila leads diversity, equity, and inclusion efforts at Cracker Barrel. He’s also a member of the company’s board and a significant shareholder. His involvement in the recent, unsuccessful rebranding is what made him a focus of criticism.

A report in the New York Post by Taylor Herzlich states that two consulting firms criticized his marketing skills as a board member, and suggested he was heavily involved in the company’s recent rebranding.

According to a report from Institutional Shareholder Services, Mr. Dávila is identified in company documents as one of only two directors with marketing expertise. He also serves on a committee that specifically evaluates social and political risks facing the company.

Why Not Fire CEO Julie Felss Masino?

Neither company is asking for Julie Felss Masino to be fired. She became Cracker Barrel’s CEO in 2023 after leaving Taco Bell, where she was President from January 2020 until June 2023.

ISS acknowledged that Cracker Barrel might need further adjustments, but argued that replacing Masino at this time would only worsen the current instability.

The Failed Rebrand Attempt

On August 19, 2025, Cracker Barrel introduced a new, simpler logo. The design features only the restaurant’s name and no longer includes the iconic “Uncle Herschel,” also known as the “Old Timer.”

The new logo sparked a huge negative reaction online from fans, and it was just the beginning of much bigger changes. The company also updated the menu, started using less expensive ingredients, and redesigned the restaurants’ interiors.

We appreciate everyone sharing their thoughts and passion for Cracker Barrel. We heard your feedback, and we’re happy to announce we’re keeping our original “Old Timer” logo.

At Cracker Barrel, it’s always been – and always will be – about serving up delicious food, warm…

— Cracker Barrel (@CrackerBarrel) August 26, 2025

After hearing feedback from customers, Cracker Barrel promptly decided to bring back its original logo.

On August 26th, Cracker Barrel announced on X (formerly Twitter) that they listened to customer feedback and will be keeping their classic “Old Timer” logo. They are removing the recently updated logo.

For me, Cracker Barrel has always been more than just a restaurant. It’s about that comforting, home-style food and genuinely warm, friendly service – it really feels like being welcomed into someone’s home. As an American classic, I know the incredible team of 70,000 people there are eager to share that experience with everyone who visits. I always look forward to my next meal there!

What’s Next For Cracker Barrel?

People who love and invest in Cracker Barrel are waiting for the shareholder meeting on November 20th to find out if the CEO or the person in charge of diversity, equity, and inclusion will be removed from their position.

Simon Biglari, a well-known investor and the CEO of Steak ‘n Shake, is pushing for the removal of Cracker Barrel’s CEO and another executive. Biglari, who owns about 3% of Cracker Barrel’s stock, even put up a billboard in Nashville, Tennessee, criticizing their recent changes and calling for the CEO to be fired.

Yes, we are responsible for this billboard.

Cracker Barrel’s leadership has let down its investors. For over ten years, they’ve been locked in a dispute with a major shareholder instead of working together to improve the company. Recently, Cracker Barrel has also become very involved in diversity, equity, and inclusion initiatives…

— Steak ‘n Shake (@SteaknShake) September 18, 2025

Steak ‘n Shake publicly stated they are behind a recent billboard criticizing Cracker Barrel. They claim Cracker Barrel’s leadership has let down its investors by spending years in a dispute with a major shareholder instead of working together to improve the company. Steak ‘n Shake also alleges that Cracker Barrel has prioritized diversity and inclusion initiatives while simultaneously decreasing food quality and wasting money on unsuccessful business deals, suggesting the board cares more about DEI than financial returns. Now, Steak ‘n Shake is launching an effort, at their own cost, to remove the CEO, stating they are finishing work the board should have done.

Look, after some pretty big backlash, Cracker Barrel really started to listen to its fans. They brought back the classic logo – thank goodness! – and, more importantly, they went back to basics in the kitchen, focusing on making the food better. As a movie buff, I appreciate a good redemption arc, and it seems like they’re trying to turn things around!

In a recent letter to investors, Cracker Barrel stated that the board, along with key leaders, are actively focused on improving the company’s performance and getting back on track for growth, as they had planned for 2025.

Although this initiative appears promising, Cracker Barrel’s stock price has fallen by about 43% in the past six months, according to NASDAQ.

The November 20th vote could mean the end for Dávila, and everyone is wondering if Masino will remain. Cracker Barrel used to be a dependable and well-loved brand, but after the difficulties it faced in 2025, its future is now uncertain.

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2025-11-13 00:59