Exclusive: Olive Garden Server Representing Restaurant's Employees Says "Things Need To Change"
As the heated battle between Darden Restaurants and hedge fund Starboard Value comes to a head, an Olive Garden employee representing the restaurant's workers spoke exclusively to BuzzFeed News about what life at the chain is really like. "There are things that need to change."
Every Member Of Olive Garden Owner's Board Should Be Replaced, Says Adviser
One of two leading leading proxy advisory firms has recommended shareholders of Olive Garden parent Darden replace the entire board with activist hedge fund Starboard Value's slate of 12 nominees. The news comes as Starboard is preparing to meet with Darden employees who have threatened direct action ahead of next month's annual shareholder meeting.
John Oliver Makes An Olive Garden Commercial From Hedge Fund's Powerpoint Presentation
Starboard Value's meticulously detailed takedown of Olive Garden, which claims the restaurants gives away too many free breadsticks, overuses salad dressing, and doesn't salt the water before cooking its pasta, made it to Last Week Tonight With John Oliver.
Olive Garden Owner Defends Breadstick Strategy As Conveying "Italian Generosity"
Four days after an activist hedge fund released an eviscerating analysis on the state of Olive Garden restaurants, claiming it was giving away too many breadsticks and doesn't salt the water before cooking its pasta, among other things, parent company Darden responds.
Investors In Olive Garden's Parent Company Have Suffered Long Enough Declares Hedge Fund As Annual Meeting Is Delayed
The parent company of Olive Garden, Longhorn Steakhouse and other fast casual dining chains delayed its annual shareholder meeting amid allegations it was giving different information out to different classes of investors regarding the sale of Red Lobster. Activist investor Starboard Capital isn't happy with the move.
Darden Chairman And CEO Will Step Down As Red Lobster Sale Closes
Darden Restaurants announced late Monday that CEO Clarence Otis will be stepping down after 10 years with the fast casual dining giant. His departure follows the company's sale of Red Lobster to private equity firm Golden Gate Capital.
How Red Lobster Got Trapped Between Its Parent Company And Activist Investors
Darden says its sale last month of the seafood restaurant chain for $2.1 billion was full and fair. Activist investors say it was a scorched earth tactic meant to save the jobs of executives. A showdown is set for the company's annual meeting later this year.
High Cost Of Shrimp And Lack Of Customers Lead To 18% Earnings Drop For Red Lobster Owner
The company said in an earnings call Friday morning that the quarter was "challenging," especially at Red Lobster, which the company is trying to spin off. Darden's CEO also urged shareholders to communicate with the company instead of holding a special vote on the spin-off or sale that an activist hedge fund has been fighting for in recent months.
Darden Earnings Could Bring Fight Over Red Lobster Spin Off To Screaming Boil
Darden Restaurants reports earnings tomorrow, and another weak report could be enough to move shareholders to side with an activist hedge fund that is trying to stop the company from spinning off its chain of Red Lobster restaurants.