Activist Investor Calls For Darden To Seek New CEO

Law360, New York (March 26, 2014, 5:17 PM EDT) -- Barington Capital Group on Wednesday urged the independent board of directors of Darden Restaurants Inc. to consider seeking a new CEO for the company, saying that current CEO Clarence Otis has failed to act in the best interests of shareholders.

The activist investor voiced its concerns in the form of a letter sent to Darden's independent board of directors. In the letter, Barington noted that Otis has failed to get shareholder approval regarding his efforts to separate Red Lobster, and said that with him at the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.