Barington urges Darden to look for new CEO

Barington urges Darden to look for new CEO

Investor says it has “lost confidence” in Clarence Otis Jr.

Activist investor Barington Capital Group LP ramped up pressure on Darden Restaurants Inc. Wednesday, urging the casual-dining company’s board to consider looking for a new chief executive.

Barington, along with activist investor Starboard Value L.P., has urged Darden to take more steps than the announced spinoff of the 706-unit Red Lobster chain and to allow shareholders to vote on Darden’s plans.

Barington said it has “lost confidence” in Clarence Oti

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