Cochran, who has served as president and chief operating officer for the company since 2010, will take the reins from Michael A. Woodhouse, Cracker Barrel’s current CEO and chairman, on Sept. 12. Cochran will also join the board of directors.
Woodhouse will transition into the role of executive chairman, following nearly 10 years as CEO and seven years as chairman.
The announcement came just months after Cracker Barrel announced its new CFO, Lawrence Hyatt. Earlier this month, the company announced plans to cut 60 management positions, mostly from its Lebanon headquarters.
“These changes are the outcome of a deliberate succession process over the past two years to prepare Cracker Barrel to continue the successes of the past five years under a new generation of leadership,” Woodhouse said in a release.
Cochran said, “Cracker Barrel is well positioned with a powerful brand and a track record of pleasing people with a unique family restaurant and retail experience. I am delighted to have the opportunity to lead this company forward, build on this record and continue to reward our shareholders.”
Cochran said she will address Cracker Barrel’s business plan for 2012 when the company announces its fourth-quarter earnings on Sept. 13.