Activist investor continues to press Darden for changes

Activist investor continues to press Darden for changes

Starboard Value cites ‘poor leadership, egregious entrenchment’

Activist investor Starboard Value L.P. has increased its share holdings in Darden Restaurants Inc. and continues to press for leadership changes in the wake of the company’s planned Red Lobster sale.

Starboard, which said it has increased its holdings from 6 percent to 7.1 percent in the Orlando, Fla.-based casual-dining company, said this week in a letter to Darden’s board that the company needs “new direction and new leadership.”

Jeffrey Smith, managing director of New

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