Darden activist ousts Olive Garden owner’s full board

Activist shareholder Starboard Value LP won its standoff with Darden Restaurants Inc (>> Darden Restaurants, Inc.), convincing shareholders to replace the entire board of the Olive Garden parent, a rare victory for dissident investors.

The election of Starboard’s 12-director slate, announced Friday at Darden’s annual meeting, was a feather in the cap for the New York hedge fund, Darden’s second-largest investor with an 8.8 percent stake.

It was a stinging defeat for Darden, which this year alienated investors by brushing off their vote requesting a special meeting to debate the company’s then-proposed sale of its struggling Red Lobster chain.

Read on.

2 responses to “Darden activist ousts Olive Garden owner’s full board

  1. Interesting one of your good ideas as applied to Chase.

  2. Didn’t see your comment! lol

    On Fri, Oct 10, 2014 at 12:21 PM, Luis P Reyes wrote:

    > Interesting one of your good ideas as applied to Chase. > > On Fri, Oct 10, 2014 at 12:13 PM, Justice League <

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