Investors

Olive Garden Parent Darden Restaurants Faces Shareholder Showdown

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

Grow Your Business at Entrepreneur LIVE! Join us on Nov. 16 in Brooklyn, NY, to learn from legends like Danica Patrick and Maria Sharapova, pitch our editors, meet with investors, and potentially walk away with funding!
Register here

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.