Prnewswireยท2025-11-13 13:25Core Viewpoint - Cracker Barrel's share price has declined by 30% since the company reaffirmed its commitment to a transformation plan that has not restored investor confidence, leading to calls for significant changes in leadership and strategy [1][2][3]. Share Price and Market Performance - The share price of Cracker Barrel has seen a 70% decline over the past five years, with a current market value of approximately $667.8 million, down from $2.0 billion when CEO Julie Masino was appointed [10]. - Short interest in Cracker Barrel stock is high, around 25%, indicating that short sellers expect further declines in the stock price despite the existing losses [4][5]. Leadership and Governance - Biglari Capital is urging shareholders to vote against the election of certain directors, including CEO Julie Masino, at the upcoming annual meeting, emphasizing the need for a new leader with turnaround experience in the restaurant sector [3][6]. - The board's insistence on continuing the current transformation plan is viewed as a significant risk to the company's survival, as it fails to acknowledge the need for change [2][4]. Shareholder Actions - Shareholders are encouraged to participate in the upcoming meeting to hold the board accountable for the substantial loss in shareholder value and to signal that the current status quo is unacceptable [6][8]. - Independent proxy advisory firms have recommended voting against the election of incumbent directors, reinforcing the call for leadership change at Cracker Barrel [11].