Business
Cracker Barrel Old Country Store® Files Definitive Proxy Materials and Sends Letter to Shareholders
Urges Shareholders to Vote the WHITE Card Today "For Only" Cracker Barrel's 10 Recommended Nominees Visit CrackerBarrelShareholders.com for More Information
About this update from Cracker Barrel Old Country Store, Inc.
[{"type":"text","content":"Urges Shareholders to Vote the WHITE Card Today \"For Only\" Cracker Barrel's 10 Recommended Nominees\nVisit CrackerBarrelShareholders.com for More Information \nLEBANON, Tenn., Oct. 9, 2024 /PRNewswire/ -- Cracker Barrel Old Country Store, Inc. (Nasdaq: CBRL) today filed definitive proxy materials with the Securities and Exchange Commission in connection with the Company's upcoming Annual Meeting of Shareholders (the \"Annual Meeting\") to be held on November 21, 2024. Shareholders of record as of September 27, 2024 will be entitled to vote at the meeting. The proxy statement and other important information related to the Annual Meeting can be found at CrackerBarrelShareholders.com.\n\n \n \n \n \n \n \n\n \nIn connection with the filing of the definitive proxy, the Cracker Barrel Board of Directors (the \"Board\") has also mailed a letter to the Company's shareholders. The letter underscores the actions taken by Cracker Barrel's refreshed and strengthened Board and leadership team to develop a long-term strategic transformation plan to drive growth and create sustainable, long-term value for shareholders, as well as the significant risk of shareholder value destruction if Sardar Biglari and Milena Alberti-Perez were elected to the Board. The Board urges shareholders to vote the white card today \"FOR ONLY\" Cracker Barrel's 10 recommended nominees.\nThe full text of the letter follows:\nDear Fellow Shareholder,\nOur Annual Meeting of Shareholders is coming up on November 21, 2024, and we are writing to encourage you to vote for Cracker Barrel's 10 recommended nominees to your Board of Directors. The stakes are very high this year because Sardar Biglari has launched yet another proxy contest, nominating himself and two other candidates for election to your Board.\nThis marks the seventh time Mr. Biglari has pursued a costly and distracting proxy contest in the last 13 years. Each time his proxy contests have gone to a vote, our shareholders have rejected Mr. Biglari's nominees and his positions by significant and increasing margins. We ask that you reject Mr. Biglari again for the reasons we discuss in this letter.\n—\nCracker Barrel is one of the most iconic brands in American casual and family dining, with tremendous brand affinity, loyal guests, and a deep connection with the communities we serve. For 55 years, the Company h...