cracker barrel old country store inc investors were enjoying their best day in six months on tuesday in the wake of the tennesseebased family restaurant chain’s announcement that it was making a leadership change the company cbrl said before the open that chief executive officer sandra cochran will be stepping down after 12 years in charge she will be succeeded as ceo by julie felss masino effective nov 1 after a transition period at that time cochran will become executive chair of the company’s board of directors through september 2024 the stock ran up 57 in morning trading putting it on track for the biggest oneday gain since it hiked up 60 on jan 10 2023 it has now bounced 83 since closing at an 11month low of 9046 on june 23 “today’s announcement represents the culmination of a multiyear ceo successionplanning process by our board of directors and sandy and we are thrilled to welcome julie to the head of the cracker barrel table” said current chairman william mccarten the ceo transition announcement comes a month after cracker barrel faced a backlash over how it celebrated pride month with its campaign “bringing the front porch to pride” also read ‘cracker barrel has fallen’ southern restaurant chain is latest to get criticized for inclusion campaign the company also reported in early june fiscal thirdquarter profit revenue and samestore sales that missed expectations citing declines in casual dining traffic that occurred toward the end of the quarter incoming ceo masino has spent the last 5 12 years at yum brands inc’s yum taco bell fastfood restaurant chain where she was most recently president of international cracker barrel shares have shed 91 over the past three months while the sp 500 index spx has gained 93