Olive Garden Parent Darden Restaurants Faces Shareholder Showdown

Find Your Ideal Franchise

Complete our short franchise quiz to discover the franchise that’s right for you.
1 min read
This story originally appeared on Reuters

The showdown between Darden Restaurants Inc and activist investor Starboard Value LC will come to a boil at the company's annual meeting on Friday, where the Olive Garden parent is expected to at minimum lose control of its board.

Starboard is seeking a full board turnover. A win would be a feather in the cap for the activist investor and a stinging defeat for Darden, which earlier this year alienated many investors after brushing off their vote requesting a special meeting on a $2.1 billion sale of Red Lobster.

Large advisory firms Institutional Shareholder Services and Glass, Lewis & Co recommended in late September that Darden investors cast their votes for all 12 of Starboard's director nominees.

(Reporting by Lisa Baertlein in Los Angeles; Editing by Lisa Shumaker)

More from Entrepreneur
Our Franchise Advisors are here to help you throughout the entire process of building your franchise organization!
  1. Schedule a FREE one-on-one session with a Franchise Advisor
  2. Choose one of our programs that matches your needs, budget, and timeline
  3. Launch your new franchise organization
Discover the franchise that’s right for you by answering some quick questions about
  • Which industry you’re interested in
  • Why you want to buy a franchise
  • What your financial needs are
  • Where you’re located
  • And more
Try a risk-free trial of Entrepreneur’s BIZ PLANNING PLUS powered by LivePlan for 60 days:
  • Get step-by-step guidance for writing your plan
  • Gain inspiration from 500+ sample plans
  • Utilize business and legal templates
  • And much more

Latest on Entrepreneur