Darden CEO pick could represent major change
SEAFOODNEWS.COM [Nation's Restaurant News] by Janathan Maze - February 24, 2015
Darden Restaurants Inc. and its new chairman, Jeffrey Smith, didn’t look far for its next CEO.
Gene Lee, who was named permanent CEO on Monday, was considered a likely candidate for the job almost from the day in July when Clarence Otis announced his retirement plans amid a historic proxy fight for the company. Lee was certainly a consideration in October, after a slate from activist investor Starboard Value LP won all 12 seats to the company’s board, and Lee was named interim CEO.
The appointment was so expected that Darden’s stock barely moved on Monday after the announcement. The company’s stock ended the day up less than 1 percent...
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