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Darden Restaurants Inc

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  • UPDATE 1-Darden Restaurants names Gene Lee interim CEO Tuesday, 14 Oct 2014 | 10:53 AM ET

    Oct 14- Darden Restaurants Inc named Chief Operating Officer Gene Lee as its interim chief executive, barely a week after activist shareholder Starboard Value LP won its standoff with the company and convinced shareholders to replace the entire board of directors. He has previously led a similar search for office products retailer Office Depot Inc, and is...

  • Early Glance: Restaurant companies Tuesday, 14 Oct 2014 | 10:27 AM ET

    Brinker International Inc. rose$. 32 or. 6 percent, to $52.61. Chipotle Mexican Grill Inc. rose$. 57 or. 1 percent, to $640.10. Darden Restaurants Inc. rose$. 60 or 1.3 percent, to $47.68.

  • Olive Garden parent company names interim CEO Tuesday, 14 Oct 2014 | 9:57 AM ET

    NEW YORK— Olive Garden's parent company Darden Restaurants promoted Chief Operating Officer Gene Lee to interim CEO after a board takeover by an activist investor last week. Darden's management had been sharply criticized for years of declining sales at Olive Garden and Red Lobster, which executives have conceded failed to keep up with changing tastes.

  • Darden Restaurants names Gene Lee interim CEO Tuesday, 14 Oct 2014 | 9:56 AM ET

    Oct 14- Darden Restaurants Inc said Chief Operating Officer Gene Lee would take over as its interim chief executive, replacing Clarence Otis. The company said on Tuesday its new board of directors has also appointed activist-investor Starboard Value LP's Jeffrey Smith as independent non-executive chairman. Starboard last week won its standoff with Darden,...

  • Darden board ouster: A warning to corporate America Monday, 13 Oct 2014 | 2:09 PM ET

    The ouster of the entire 12-person board of directors at Darden Restaurants could trigger alarm bells at other companies.

  • Midday Glance: Restaurant companies Monday, 13 Oct 2014 | 1:19 PM ET

    Brinker International Inc. rose$. 69 or 1.3 percent, to $52.81. Chipotle Mexican Grill Inc. fell $5.45 or. 8 percent, to $650.13. Darden Restaurants Inc. fell$. 71 or 1.5 percent, to $47.66.

  • Early Glance: Restaurant companies Monday, 13 Oct 2014 | 10:30 AM ET

    Brinker International Inc. fell$. 29 or. 6 percent, to $51.83. Chipotle Mexican Grill Inc. fell $2.78 or. 4 percent, to $652.80. Darden Restaurants Inc. fell$. 69 or 1.4 percent, to $47.68.

  • Early movers: JCP, TMUS, SHLD, CSX, GE, DRI & more Monday, 13 Oct 2014 | 7:45 AM ET
    Trader on the floor of the New York Stock Exchange.

    Some of the names on the move ahead of the open.

  • Business Highlights Friday, 10 Oct 2014 | 6:14 PM ET

    Olive Garden seen through an unlimited pasta pass. NEW YORK— The " Never Ending Pasta Pass" card from Olive Garden not only promised weeks of unlimited pasta, but a look into why the chain is fighting to hold onto customers. It was a successful publicity stunt for Olive Garden's parent company, Darden Restaurants.

  • Midday Glance: Restaurant companies Friday, 10 Oct 2014 | 1:19 PM ET

    Brinker International Inc. fell$. 61 or 1.1 percent, to $52.90. Chipotle Mexican Grill Inc. rose $1.43 or. 2 percent, to $662.04. Darden Restaurants Inc. fell$. 05 or. 1 percent, to $49.22.

  • Some changes Olive Garden customers might see Friday, 10 Oct 2014 | 1:10 PM ET

    NEW YORK— Changes are likely in store for Olive Garden with a new board of directors at the helm. Activist investor Starboard Value on Friday succeeded in its push to replace all 12 seats on Darden Restaurants' board with its own nominees. —SALTIER PASTA: Starboard took issue with Olive Garden for failing to salt its pasta water.

  • Midday movers: Blackstone Group, Tesla Motors & more Friday, 10 Oct 2014 | 12:40 PM ET

    Some of Friday's midday movers:

  • ORLANDO/ LOS ANGELES, Oct 10- Darden Restaurants Inc lost its standoff with activist shareholder Starboard Value LP at its annual meeting on Friday, when stakeholders tossed out the Olive Garden parent's entire board in a rare victory for dissident investors. It also is a stinging defeat for Darden, which earlier this year alienated many investors by brushing...

  • Early Glance: Restaurant companies Friday, 10 Oct 2014 | 10:28 AM ET

    Brinker International Inc. rose$. 12 or. 2 percent, to $53.63. Domino's Pizza Inc. rose$. 42 or. 5 percent, to $77.12. McDonald's Corp. rose$. 42 or. 5 percent, to $93.14.

  • Darden loses entire board in activist investor sweep Friday, 10 Oct 2014 | 10:22 AM ET

    Darden Restaurants' entire board was ousted in a meeting on Friday by activist Starboard Value in a rare victory for dissident investors.

  • UPDATE 1-Darden loses full board in activist sweep Friday, 10 Oct 2014 | 10:12 AM ET

    ORLANDO/ LOS ANGELES, Oct 10- Darden Restaurants Inc's entire board was ousted in a meeting on Friday by activist Starboard Value LP in a rare victory for dissident investors. The ouster is also 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...

  • Early movers: SYMC, YELP, MSFT, FDO, TSLA & more Friday, 10 Oct 2014 | 7:37 AM ET
    A trader works on the floor of the New York Stock Exchange.

    Some of the names on the move ahead of the open.

  • Olive Garden seen through an Unlimited Pasta Pass Friday, 10 Oct 2014 | 6:03 AM ET
    Olive Garden Never Ending Pasta Pass for sale on eBay

    A first-hand sampling of Olive Garden's Unlimited Pasta Pass sheds some light on why the chain is struggling.

  • Darden faces shareholder ire in proxy vote Friday, 10 Oct 2014 | 6:00 AM ET

    Oct 10- 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...

  • FACTBOX-Darden, Starboard's dueling board nominees Friday, 10 Oct 2014 | 6:00 AM ET

    -Michael Barnes, Darden director since 2012. Chief Executive Officer of Signet Jewelers Ltd.- Christopher Fraleigh, Darden director since 2008. Chairman and CEO of Shearer's Foods Inc.- Michael Rose, Darden director since 1995. Chairman of Midaro Investments Inc.- Maria Sastre, Darden director since 1998. President and chief operating officer of Signature...