Activist investor looks to overthrow Darden board

Activist investor looks to overthrow Darden board

Starboard Value proposes a plan to replace all 12 directors on the current board after dissatisfaction with the Red Lobster deal.

Activist investor Starboard Value L.P. put forth a plan on Thursday to replace all 12 directors on Darden Restaurant Inc.’s board with its own slate, which includes several restaurant industry veterans.

Starboard Value, which owns 6.2 percent of Darden’s shares, in a letter to other shareholders condemned Orlando, Fla.-based Darden's proposed $2.1 billion sale of Re

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish