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CRACKER BARREL ELECTS CHERYL HENRY TO BOARD OF DIRECTORS

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Cracker Barrel Old Country Store (NASDAQ: CBRL) has announced the election of Cheryl Henry to its Board of Directors, effective immediately. Henry, a former President, CEO, and Chairwoman of Ruth's Hospitality Group, brings extensive leadership experience in the restaurant industry. She is replacing William Moreton, who is stepping down for personal reasons but will continue to serve as an advisor through the end of 2024. Carl Berquist, Chairman of Cracker Barrel's Board, highlighted Henry's industry knowledge and leadership as key assets for the company's strategic transformation.

Positive
  • Cheryl Henry's extensive leadership experience and success in revitalizing Ruth's Chris Steak House.
  • Henry's appointment aligns with Cracker Barrel's strategic transformation.
  • Outgoing director William Moreton will remain an advisor to ensure a smooth transition.
Negative
  • William Moreton stepping down from the Board could be seen as a loss of experienced leadership.
  • Potential uncertainty among investors due to the change in board composition.

LEBANON, Tenn., May 28, 2024 /PRNewswire/ -- Cracker Barrel Old Country Store® (NASDAQ: CBRL) today announced that Cheryl Henry, 50, has been elected to the company's Board of Directors, effective immediately.  Ms. Henry is replacing director William Moreton, who will step down from the Board for personal reasons effective May 28, 2024.  Despite his departure, Mr. Moreton will continue to serve as an advisor to the Board and to management through the end of calendar 2024.

Ms. Henry is the former President, Chief Executive Officer, and Chairwoman of Ruth's Hospitality Group, Inc., a fine-dining restaurant company operating over 150 Ruth's Chris Steak House restaurants worldwide. A seasoned restaurant and public company executive with extensive operational leadership experience, Ms. Henry served in numerous senior leadership roles at Ruth's Chris, including Chief Operating Officer, Senior Vice President and Chief Branding Officer, and Chief Business Development Officer, before she assumed the role of CEO in 2018. Prior to joining Ruth's Chris in June of 2007, Ms. Henry served as Chief of Staff for the Mayor of Orlando.

Carl Berquist, Chairman of the Cracker Barrel Board of Directors, stated of Ms. Henry's appointment, "Cheryl brings to our Board a wealth of industry knowledge and executive leadership experience. Her success in overseeing the revitalization of Ruth's Chris will be particularly relevant to Cracker Barrel as we undertake our own strategic transformation." Mr. Berquist added, "As we welcome Cheryl, we also thank Bill for his significant contributions to the Board and to the Company. Although he is stepping down from the Board in an official capacity, Bill will remain a trusted advisor and part of the Cracker Barrel family."

About Cracker Barrel Old Country Store, Inc. Cracker Barrel Old Country Store, Inc. (NASDAQ: CBRL) is on a mission to bring craveable, delicious homestyle food and unique retail products to all guests while serving up memorable, distinctive experiences that make everyone feel welcome. Established in 1969 in Lebanon, Tenn., Cracker Barrel and its affiliates operate approximately 660 company-owned Cracker Barrel Old Country Store® locations in 44 states and own the fast-casual Maple Street Biscuit Company. For more information about the company, visit www.crackerbarrel.com.

Media Contact:

Heidi Pearce
heidi.pearce@crackerbarrel.com
(615) 235-4315

Investor Contact:

Adam Hanan
Adam.hanan@crackerbarrel.com
(615) 235-4367

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SOURCE Cracker Barrel Old Country Store, Inc.

FAQ

Who has been elected to the Cracker Barrel Board of Directors?

Cheryl Henry has been elected to the Cracker Barrel Board of Directors.

When did Cheryl Henry join the Cracker Barrel Board?

Cheryl Henry joined the Cracker Barrel Board on May 28, 2024.

What is Cheryl Henry's background?

Cheryl Henry is the former President, CEO, and Chairwoman of Ruth's Hospitality Group, with extensive leadership experience in the restaurant industry.

Why is William Moreton stepping down from the Cracker Barrel Board?

William Moreton is stepping down from the Cracker Barrel Board for personal reasons.

Will William Moreton continue to be involved with Cracker Barrel?

Yes, William Moreton will continue to serve as an advisor to the Board and management through the end of 2024.

What is the stock symbol for Cracker Barrel?

The stock symbol for Cracker Barrel is CBRL.

How might Cheryl Henry's appointment impact Cracker Barrel?

Cheryl Henry's appointment may bring valuable industry knowledge and leadership to support Cracker Barrel's strategic transformation.

Cracker Barrel Old Country Store, Inc.

NASDAQ:CBRL

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About CBRL

cracker barrel old country store, inc. provides a friendly home-away-from-home in its old country stores and restaurants. guests are cared for like family while relaxing and enjoying real home-style food and shopping that’s surprisingly unique, genuinely fun and reminiscent of america’s country heritage…all at a fair price. the restaurant serves up delicious, home-style country food such as meatloaf and homemade chicken n’ dumplins as well as its signature biscuits using an old family recipe. the authentic old country retail store is fun to shop and offers unique gifts and self-indulgences. cracker barrel old country store, inc. (nasdaq: cbrl) was established in 1969 in lebanon, tenn. and operates over 595 company-owned locations in 42 states. every cracker barrel unit is open seven days a week with hours sunday through thursday, 6 a.m. – 10 p.m., and friday and saturday, 6 a.m. - 11 p.m. for more information, visit crackerbarrel.com.