Cracker Barrel Shareholders Demand Change At Annual Meeting
11/19/2020 - 11:09 AM
SAN ANTONIO , Nov. 19, 2020 /PRNewswire/ -- Biglari Capital Corp. (together with its affiliates, "Biglari Capital"), one of the largest and longest-standing shareholders of Cracker Barrel Old Country Store, Inc. (the "Company" or "Cracker Barrel") (NASDAQ:CBRL), owning 8.7% of the Company's common stock, issued the following statement:
Today, shareholders delivered a resounding message to the Board of Directors of Cracker Barrel that change is necessary. Director Norman Johnson received the most withhold votes of any director nominee in the last decade. Cracker Barrel's executive compensation program also failed for the first time in the Company's history. Biglari Capital expects the Cracker Barrel Board to add a director with substantial restaurant operating experience by the next annual meeting. Because there is more value to be created with the current base of Cracker Barrel stores than on any other activity, we encourage directors to focus management on the core business and reject any other acquisitions. We wish the directors of Cracker Barrel great success in creating value for all shareholders.
View original content:http://www.prnewswire.com/news-releases/cracker-barrel-shareholders-demand-change-at-annual-meeting-301177407.html
SOURCE Biglari Capital Corp.
Cracker Barrel Old Country Store Inc
CBRL Rankings
#4460 Ranked by Stock Gains
CBRL Stock Data
Industry
Food Service Contractors
Sector
Accommodation and Food Services
Tags
Consumer Services, Restaurants, Accommodation and Food Services, Food Service Contractors
Country
US
City
Lebanon
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.