New Delhi, July 30 -- The $700 million experiment to modernize Cracker Barrel ended Wednesday with a $4.6 million severance package and a private security detail for the chief executive who ran it. Julie Masino, who became CEO in November 2023, will leave the company on August 10. She will remain in an advisory role through October 9 and receive severance payments over two years. The security coverage - described by the company as "protective services for a reasonable period of time" following her advisory role - is an unusual component of a departure agreement for a restaurant chain's outgoing CEO.

the logo was modified to remove the words "old timer," menus were updated, dining rooms were decluttered, and pricing was adjusted. The chan...