From Cracker Barrel to Boeing, Companies Tap Retired CEOs

By the Editorial Team · Wednesday, July 29, 2026

Cracker Barrel and other major companies have appointed retired executives like David Deno and Dan Schulman to return as CEOs in order to address business challenges and lead strategic turnarounds. This trend highlights a growing reliance on seasoned leaders to provide stability and expertise during times of market uncertainty and organizational change.

Several prominent companies have recently appointed retired executives to return as chief executive officers, reflecting a growing trend among boards seeking experienced leadership to navigate challenging business environments.

In early 2026, Cracker Barrel chose David Deno, the former CEO of Bloomin’ Brands, to lead its family-dining chain amid efforts to reverse a sharp decline in sales. The downturn followed controversial modernization initiatives that altered the brand’s traditional image and menu, provoking backlash from longtime customers and public figures, including former President Donald Trump. Cracker Barrel’s board, working alongside its then-serving Gen X CEO, agreed on a search for a successor capable of stabilizing the company, ultimately selecting the 69-year-old Deno to spearhead the turnaround.

This move is part of a broader pattern seen in other major companies. Verizon hired Dan Schulman, former PayPal CEO, who came out of retirement residing on a Montana ranch to take the helm and guide the company in a new strategic direction. Schulman, 68, was drawn back to executive leadership by the opportunity to influence Verizon’s transformation. Meanwhile, Boeing extended its leadership with the appointment of Kelly Ortberg, 64, in 2024. Ortberg brought extensive experience from previous aerospace industry roles to help navigate ongoing challenges within the company.

Governance experts note that bringing retired CEOs back into active roles can provide boards with immediate credibility and seasoned expertise at critical junctures. Matteo Tonello, head of data benchmarking and analytics at the Conference Board, observed that in the U.S., the concept of a “retired CEO” is often fluid, as many continue to serve in board capacities or return to executive positions. For the individuals involved, returning to the CEO role can offer an engaging challenge and the benefits associated with leading major corporations.

However, research indicates that while retired executives often succeed in their immediate post-retirement leadership roles, their subsequent tenures present mixed outcomes. Success in these second acts frequently depends on factors such as corporate culture and assembling an effective management team. David Deno has echoed this perspective, emphasizing the importance of aligning with the right team to restore confidence in Cracker Barrel’s legacy while driving change.

As companies confront shifting market dynamics and internal pressures, the trend of recalling retired CEOs underscores a reliance on experienced leadership to navigate periods of uncertainty and transformation.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.