Home Social Media Hype 1

Revealed: The $6.6 Million Compensation Package For Cracker Barrel CEO Julie Felss Masino In 2024

• minute read
Contents

The compensation package for the Chief Executive Officer of Cracker Barrel Old Country Store, Inc. (NASDAQ: CBRL) has become a major point of interest for investors and the public, especially following a period of strategic shifts and market volatility. As of the latest fiscal reporting for 2024, the current CEO, Julie Felss Masino, received a total compensation package valued at over $6.6 million, a figure that reflects her new leadership role and the structure of high-level executive pay in the competitive restaurant industry.

This substantial figure is not just a straightforward annual salary; it is a complex mosaic of base pay, performance-based incentives, and stock awards designed to align executive interests with long-term shareholder value. The details of Ms. Masino’s remuneration, particularly the stark contrast between her pay and that of the median employee, provide a fascinating look into the financial dynamics of one of America’s most iconic casual dining and retail chains, especially as the company navigates a challenging economic environment in late 2024 and early 2025.

Julie Felss Masino: A Detailed Professional Biography

Julie Felss Masino was appointed as the President and Chief Executive Officer of Cracker Barrel Old Country Store, Inc. in August 2023, succeeding the long-serving Sandra B. Cochran. Her appointment marked a significant transition for the company, bringing an executive with a deep background in global restaurant and retail operations.

Her career is characterized by extensive experience driving innovation and growth for globally recognized brands. Before joining Cracker Barrel, Ms. Masino held several high-profile leadership positions across different sectors.

  • Current Role: President and Chief Executive Officer, Cracker Barrel Old Country Store, Inc. (Appointed August 2023).
  • Taco Bell: She served as the President of Taco Bell International, overseeing the brand's global expansion and operations.
  • Starbucks Corporation: Ms. Masino spent over a decade (2002 to 2014) in various leadership roles at Starbucks (NASDAQ: SBUX). Her tenure included serving as the Chief Marketing Officer (CMO) of Starbucks’ China business, a pivotal market for the coffee giant.
  • Other Brands: Her professional background also includes significant brand work and executive roles at other major consumer companies, including Coach, Godiva, Sprinkles Cupcakes, and Fisher Price.
  • Experience Focus: Ms. Masino is recognized as a seasoned executive with more than 30 years of experience in driving innovation and strategic growth.

The Components of the Cracker Barrel CEO’s Compensation Package

The total compensation for a CEO like Julie Felss Masino is structured to incentivize performance, a common practice in publicly traded companies. For the fiscal year ending in 2024, her total reported compensation was $6,683,711. This figure is complex and broken down into several key components mandated by the Securities and Exchange Commission (SEC).

Base Salary: The Fixed Component

The base salary is the fixed, non-performance-based portion of the CEO's pay. For Ms. Masino’s full-year contract, the base salary is set at $1 million. However, because she joined the company in August 2023, the reported salary component for the Fiscal Year 2024 was $970,863, reflecting a partial year of service.

Performance-Based Incentives and Equity Awards

The vast majority of the CEO’s total compensation comes from variable, at-risk pay, which is directly tied to the company's financial and operational success. This is a standard structure to ensure the CEO is focused on achieving key strategic goals and increasing shareholder return.

  • Stock Awards (Equity Grants): This is typically the largest component of total pay, comprising restricted stock units (RSUs) and performance-based stock units (PSUs). For a new CEO, the initial equity grant often includes a substantial sign-on award to compensate for incentives left behind at a previous employer, which contributes significantly to the high total compensation in the first year.
  • Non-Equity Incentive Plan Compensation (Bonus): This annual cash bonus is awarded based on the achievement of specific, pre-determined financial and operational metrics, such as same-store sales growth, profitability (EBITDA), and earnings per share (EPS). Ms. Masino's contract includes annual bonus opportunities of 125 percent of her base salary.
  • Other Compensation: This includes benefits like contributions to retirement plans, company-paid insurance premiums, and, in the first year, potential relocation or transition expenses related to the new role.

CEO Pay Ratio and Financial Context

A major point of scrutiny in executive compensation is the CEO Pay Ratio, which compares the CEO's total compensation to the median annual total compensation of all other employees. For Cracker Barrel in the Fiscal Year 2024, this ratio was reported as 360 to 1. This means the CEO earned 360 times the pay of the company's median employee.

This stark disparity is often cited in discussions about wealth inequality and corporate responsibility, particularly for a brand like Cracker Barrel, which relies on a large workforce of hourly restaurant and retail employees. The median employee pay calculation includes all full-time, part-time, and seasonal workers, providing a benchmark for the typical compensation across the organization.

Stock Performance and Strategic Headwinds

The executive pay structure is intrinsically linked to the company’s performance, and the 2024 fiscal year presented significant challenges for Cracker Barrel (CBRL). The company's stock has faced considerable pressure, with a reported performance decrease of -28.15% in 2024. This downturn reflects broader investor concerns about the company's ability to drive consistent growth in a tough economic climate characterized by high inflation and cautious consumer spending.

Despite the stock struggles, the company reported total revenue of $894.4 million for the fourth quarter of fiscal 2024, representing a 6.9% increase, partly due to an extra week in the reporting period. However, the critical restaurant comparable store sales saw only a modest increase of +0.4%. This mixed financial picture underscores the need for the strategic review and turnaround efforts being led by CEO Masino, which have included controversial decisions like a proposed logo redesign that was quickly reversed following public backlash.

Cracker Barrel Compensation in the Restaurant Industry Landscape

The compensation for Cracker Barrel’s CEO must be viewed within the context of the broader restaurant industry. In 2024, the sector experienced a volatile environment. While some top executives at S&P 500 companies saw pay raises, the median compensation for CEOs at publicly traded restaurant companies actually fell by 7.5%.

Compared to other major restaurant chains, Masino's total compensation of $6.68 million places her firmly within the upper echelon of the industry, though typically below the compensation of CEOs at larger, more diversified global chains. For perspective, her predecessor, Sandra B. Cochran, had a total compensation of $8,271,680 in a prior fiscal year, demonstrating that Masino's package is competitive and reflective of the demands of a turnaround role at a $3.5 billion revenue company. [cite: 10 from previous search, 11 from previous search]

The high initial compensation is a strategic move by the Cracker Barrel Board of Directors to attract a proven, high-caliber executive. The goal is that the long-term value generated by Masino’s strategic leadership—which includes modernizing the brand and improving operational efficiency—will eventually justify the substantial compensation package through increased shareholder returns. Her focus on a "strategic refresh" is aimed at revitalizing the brand's core offerings and reversing the negative stock trend that has plagued the company in recent years.

ceo of cracker barrel salary
ceo of cracker barrel salary

Detail Author:

  • Name : Julian Thiel
  • Username : elnora.bogan
  • Email : lyric49@christiansen.com
  • Birthdate : 1976-07-29
  • Address : 70918 Labadie Corner Elmoreland, WI 79207
  • Phone : +1.251.892.5883
  • Company : Kulas, Beatty and Anderson
  • Job : Tax Examiner
  • Bio : Facilis perferendis quibusdam voluptas beatae rerum quo recusandae. Dolore illo sed et veniam perferendis. Eaque cum repellat doloribus impedit eum.

Socials

instagram:

tiktok:

  • url : https://tiktok.com/@conroyc
  • username : conroyc
  • bio : In distinctio deleniti cumque id fugiat culpa aut. Porro dolores laborum quia.
  • followers : 4797
  • following : 2552

linkedin:

twitter:

  • url : https://twitter.com/candelario_conroy
  • username : candelario_conroy
  • bio : Reiciendis consequatur at voluptas magnam. Dolores ipsa inventore officiis sit vitae ipsum. Iste laudantium voluptas qui itaque autem incidunt.
  • followers : 360
  • following : 2604

facebook:

Random Posts