Barington Asks Darden To Replace CEO

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Mani
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darden restaurants

Barington Capital Group LP Wednesday said it has lost confidence in Darden Restaurants, Inc. (NYSE:DRI)’s chief executive officer Clarence Otis. In its letter released today, New York-based Barington said Darden Restaurants, Inc. (NYSE:DRI) would be worth ‘substantially more’ if the CEO were more effective. Barington sought Darden to split Last year, activist investor Barington Capital urged Darden Restaurants, Inc. (NYSE:DRI) to split into two separate companies. It was reported that the investor group pushed Darden to create one company with its Olive Garden and Red Lobster restaurants and another with its higher-growth chains that include Capital Grille. In December, Darden announced…

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Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports