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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): August 26, 2004
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CBRL GROUP, INC.
Tennessee 0-25225 62-1749513
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(State or Other (Commission File Number) (I.R.S. Employer
Jurisdiction of Identification No.)
Incorporation)
305 Hartmann Drive, Lebanon, Tennessee 37087
(615) 444-5533
Item 5.02. Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
On August 26, 2004, Cyril J. Taylor was appointed, effective
immediately, to Executive Vice President of Cracker Barrel Old Country Store,
Inc. ("Cracker Barrel"), a subsidiary of CBRL Group, Inc., and appointed,
effective January 1, 2005, to President and Chief Operating Officer of Cracker
Barrel. The current President and Chief Operating Officer of Cracker Barrel,
Donald M. Turner, will retire from his position at the end of this calendar
year. A press release announcing this event was issued by CBRL Group, Inc. on
August 26, 2004. See Section 7.01 below.
Mr. Taylor, age 50, has served Cracker Barrel since 1978 in a variety of
roles, including Vice President of Operations Administration from about July
1998 to about July 2000, Divisional Vice President of Restaurant Operations from
about July 2000 to about July 2002, Senior Vice President of Restaurant
Operations from about July 2002 to about August 2003, and Senior Vice President
of Operations from about August 2003 until his appointment as Executive Vice
President.
Item 7.01. Regulation FD Disclosure.
On August 26, 2004, CBRL Group, Inc. issued a press release regarding
the retirement at the end of this calendar year of the President and Chief
Operating Officer of subsidiary Cracker Barrel Old Country Store, Inc. and the
planned succession for these positions. The press release is furnished hereto as
Exhibit 99.1 and incorporated by reference as if fully set forth herein.
Item 9.01. Financial Statements and Exhibits.
(a) Financial Statements. None
(b) Pro Forma Financial Information. None
(c) Exhibits.
99.1 Press Release dated August 26, 2004.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: August 30, 2004 CBRL GROUP, INC.
By: /s/ James F. Blackstock
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Name: James F. Blackstock
Title: Senior Vice President,
General Counsel and Secretary
[Logo of CBRL Group, Inc.]
Post Office Box 787
Lebanaon, Tennessee
37088-0708
Phone: 615-443-9869
Contact: Julie Davis
Communications Director
615-443-9266
CRACKER BARREL PRESIDENT TO RETIRE
Planned Succession Maintains Direction and Leadership
LEBANON, Tenn. (August 26, 2004) - CBRL Group, Inc. (Nasdaq: CBRL) today
announced that Donald M. Turner, President and Chief Operating Officer of
subsidiary Cracker Barrel Old Country Store, Inc., will retire at the end of
this calendar year. Turner's successor will be Cyril J. Taylor, who has been
promoted to Executive Vice President, effective immediately, and who will become
President and COO, effective January 1, 2005. Turner and Taylor will work
closely together to ensure a smooth transition.
Turner returned to Cracker Barrel in 1999 after a six-year hiatus to
lead the concept through an important turn-around, restoring the chain's focus
on guest service and execution, and achieving solid operational and financial
results. "Don's leadership and emphasis on simplifying business operations were
exactly what Cracker Barrel needed," said Michael A. Woodhouse, who will
continue as Chief Executive Officer of Cracker Barrel in addition to his role as
President and Chief Executive Officer of CBRL Group, Inc. "Don's ability to
focus people on the basics of execution provided the company with a foundation
for the relentless repetition of excellent service needed to succeed in this
industry, and allowed the company to further develop its operational team. Don
leaves behind a strong business operation. We will miss him, but certainly hope
he will enjoy a pleasant retirement."
Taylor, age 50, started his career with Cracker Barrel in 1978 as a
Restaurant Management Trainee and has regularly been promoted to positions of
increasing responsibility and authority, becoming Senior Vice President of
Operations in July of 2003. He studied Business Administration at the University
of Tennessee in Knoxville, TN and served in the U.S. Marine Corps from 1973 to
1976.
"Because of his length of service and the leadership role he has played
over the years, Cy has more than just a deep understanding of Cracker Barrel's
culture. He has been an essential part of building and shaping the culture,"
said Turner about his successor. In discussing why Taylor was selected as
Cracker Barrel's next President, Woodhouse said, "Cy is well-respected
throughout the organization for his integrity and values, and for his ability to
translate the corporate culture and philosophy into business results. I'm very
pleased that the management career development and succession planning process
we've been engaged in has resulted in such a well-qualified and natural
successor as Cy."
Headquartered in Lebanon, Tennessee, CBRL Group, Inc., through its
subsidiaries, presently operates 504 Cracker Barrel Old Country Store(R)
restaurants and gift shops located in 41 states and 110 company-operated and 20
franchised Logan's Roadhouse(R) restaurants in 18 states.
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