LEBANON, Tenn., April 23, 2021 /PRNewswire/ -- Cracker Barrel Old
Country Store® (Nasdaq: CBRL) today announced that Darryl "Chip"
Wade, 58, has been appointed to the
company's Board of Directors, effective
immediately.
The fifth new director named to the Board in the last four
years, Mr. Wade's appointment is the result of the Company's robust
board succession and refreshment program – a core element of the
Board's larger, ongoing commitment to alignment with and
accountability to shareholders.
Mr. Wade is President of Union Square Hospitality Group, LLC
(USHG), the parent company of numerous award-winning and acclaimed
restaurants such as Union Square Cafe, Gramercy Tavern, and The
Modern, as well as a multifaceted catering and events and
restaurant consulting business. Mr. Wade joined USHG in 2019 after
having served as the EVP of Operations for Red Lobster Seafood
Company, a position he held for several years, both while it was
owned by Darden Restaurants, Inc. and after its divestiture to
Golden Gate Capital.
During his extensive four-decade career in the restaurant
industry, Mr. Wade also served as the Chief Operations Officer for
Legal Sea Foods Restaurant Group and held several senior executive
positions at Darden, including
Senior Vice President of Smokey Bones BBQ and the Director of
Revitalization for Olive Garden Restaurants. Mr. Wade began his
career in 1985, as a general manager for TGI Friday's in
Boston, and spent his first 14
years with TGIF and its parent, Carlson Restaurants Worldwide,
including as Executive Director of Human Resources and Executive
Director of Non-Traditional Development and Domestic Franchise
Sales. Mr. Wade holds a Master of Business Administration degree
from the University of Texas at Dallas,
a Bachelor of Science degree from Widener
University, and an Associate of Culinary Arts degree from
Johnson & Wales University.
Norm Johnson, the Chairman of the
Company's Nominating and Governance Committee, stated, "As we have
discussed with our shareholders as part of our annual engagement
process, Cracker Barrel's Board is committed to a thoughtful
succession planning and Board refreshment process. Our ability to
continually recruit directors of Chip's caliber is a testament to
the strength of our Board and our company, as well as the
thoroughness of those processes. Chip is the third new director
we've added in the last twelve months and the fifth we've added in
the last four years."
William McCarten, Chairman of the
Cracker Barrel Board of Directors, added, "Chip brings with him a
deep knowledge of the casual dining industry and a wealth of
experience with various concepts, including as the current leader
of one of the country's most innovative and admired restaurant and
food-service organizations. Not only is Chip an accomplished
operator and leader, but he understands the strategic imperatives
of Cracker Barrel and the casual dining industry. A long-time
admirer and guest of Cracker Barrel, he knows our brand well. We
anticipate Chip's deep industry expertise will add not only a
highly-relevant strategic perspective to our Boardroom but also
meaningful insight for our management team."
About Cracker Barrel Old Country Store, Inc.
Cracker
Barrel Old Country Store, Inc. (Nasdaq: CBRL) shares warm welcomes
and friendly service while offering guests high-quality homestyle
food and unique shopping — all at a fair price. By creating a world
filled with hospitality through an experience that combines dining
and shopping, guests are cared for like family. Established in 1969
in Lebanon, Tenn., Cracker Barrel
and its affiliates operate more than 660 company-owned Cracker
Barrel Old Country Store® locations in 45 states and own the
fast-casual Maple Street Biscuit Company. For more information
about the company, visit www.crackerbarrel.com.
Media Contact:
Heidi
Pearce
heidi.pearce@crackerbarrel.com
(615) 235-4315
Investor Contact:
Jessica
Hazel
Jessica.hazel@crackerbarrel.com
(615) 235-4367
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SOURCE Cracker Barrel Old Country Store, Inc.