Steak ‘N Shake Calls for Cracker Barrel CEO’s Firing, Launches Bold MAGA-Inspired Hat Campaign

A Heated Showdown Between Restaurant Rivals

The simmering feud between two iconic American restaurant chains has boiled over, as Steak ’n Shake CEO Sardar Biglari—one of Cracker Barrel’s largest investors—publicly demanded the firing of Cracker Barrel CEO Julie Felss Masino. The call for Masino’s ouster comes on the heels of a disastrous rebranding effort that sparked a customer revolt, sent Cracker Barrel’s stock tumbling, and forced the company to reverse course after former President Donald Trump weighed in on the controversy.

MAGA-Style Hats and Social Media Trolling

Biglari, whose company owns nearly 10% of Cracker Barrel’s outstanding shares, took his campaign to social media this week. On X (formerly Twitter), he posted images of red MAGA-style hats emblazoned with pointed slogans:
– “Fire Cracker Barrel CEO”
– “Biglari was right about everything”

The trolling was more than just showmanship—it was a public rebuke of Cracker Barrel’s leadership and a rallying cry for frustrated investors and customers alike.

The Branding Backlash: From “Old Timer” to Outrage

Cracker Barrel’s troubles began with the rollout of a new, modernized logo that dropped the chain’s beloved “Old Timer” character. The rebranding effort, intended to freshen the company’s image, instead triggered a fierce backlash from loyal customers who saw it as an abandonment of the chain’s heritage.

The uproar quickly spread, culminating in a $143 million loss in market value and a wave of negative headlines. The situation escalated further when President Trump publicly criticized the rebranding, pressuring Cracker Barrel to restore its traditional logo.

Biglari’s Critique: “Woke” Management and Wasted Money

Biglari has been a vocal critic of Cracker Barrel’s management for months. In a post echoing Trump’s famous “You’re Fired” catchphrase from The Apprentice, Steak ’n Shake blasted Cracker Barrel’s “woke” leadership, arguing that Masino and her team lacked the competence to protect the brand’s legacy.

In a 2024 letter to shareholders, Biglari slammed the company’s $700 million store remodel as “bland, soulless, and an unnecessary waste of money.” He argued that swapping Americana décor for sleek, modern furnishings would do nothing to reverse declining customer traffic, and accused the board of being “poorly constituted” and unfit to safeguard Cracker Barrel’s heritage.

The Aftermath: Logo Restored, Questions Remain

After initially dismissing critics as a “vocal minority,” Cracker Barrel was forced to backtrack, announcing it would restore the “Old Timer” logo in response to overwhelming customer demand. But the damage was done: investors remained jittery, and Biglari doubled down, calling the logo reversal “a symptom of a bigger problem.”

Steak ’n Shake’s social media posts urged Cracker Barrel to “use this money to keep prices down to support American families” and “go back to making fresh biscuits every day.” The chain ended its statement with a renewed call: “Fire the CEO!”

Masino Under Fire

Julie Felss Masino, who took over as CEO in 2023, now faces the most challenging period of her tenure. With both Wall Street and Main Street questioning her vision for the brand, the pressure to restore confidence and reconnect with Cracker Barrel’s loyal customer base has never been greater.

As the dust settles, the saga serves as a cautionary tale for companies navigating the delicate balance between modernization and tradition—and as a reminder that in the restaurant world, the customer’s voice can still pack a punch.