Outback Steakhouse To Beef Up Board After Activist Dispute

Law360 (April 9, 2020, 10:49 AM EDT) -- Outback Steakhouse's parent on Thursday agreed to add two new directors to its board as part of an agreement with Jana Partners LLC, in a move that comes roughly five months after the activist investor pushed for changes at the company, including a potential sale.

Bloomin' Brands Inc. will add two new independent directors to its board effective July 1, according to a statement. The newly constituted board of Bloomin' Brands will comprise 10 total directors.

Although the identities of the new directors are not set in stone, it's expected that they will be John Gainor — who has a long history...

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