Economy freezes Cracker Barrel execs’ pay

By Geert De Lombaerde Posted on October 23, 2009 at 2:30 pm

The compensation committee of Cracker Barrel’s board of directors in late July froze the salaries of the company’s top executives. It is more than likely they will not thaw out until 2011.

In response to the general economic downturn and upon the recommendation of management, the salaries of all Named Executive Officers were frozen effective July 29, 2009. The salary freeze remains in effect as of the date of this proxy statement. Accordingly, we expect that the base salaries of the Named Executive Officers during 2010 will be the same as those for 2009…

And in case you were wondering, yes, the execs’ bonus plans aren’t changing, either. Check out the full proxy here.

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Tags: Cracker Barrel Old Country Store Inc., executive compensation, restaurants, retail  

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