Darden Announces Leadership Changes at Red Lobster, Olive Garden
Darden Announces Leadership Changes at Red Lobster, Olive Garden and Other Key Roles, Draws on Deep Bench Strength to Bring Fresh Perspectives to Iconic Brands with New Energy
ORLANDO, Fla., May 16, 2011 - Drawing from its deep reservoir of leadership talent, Darden Restaurants, Inc. (NYSE: DRI) today announced new assignments for the leaders of Red Lobster and Olive Garden, its two largest brands. The moves, which are part of a rotation of leadership in four senior positions in the company, demonstrate the benefits of Darden’s long-term commitment to developing talent and its ability to leverage its leaders’ breadth to provide key roles with new energy and insight.
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The following leadership appointments will take effect early in the new fiscal year which begins May 30, 2011:
Commenting on the moves, Darden’s Chairman and CEO Clarence Otis said: “As we look to the future and work to build on Darden’s long track record of competitively superior performance, we have a deep talent bench that can be leveraged to bring fresh perspectives to some of our most important leadership positions. The ability to reach across our business for talented and experienced professionals to lead us into the next phase of our growth reflects our consistent investment over many years in attracting, developing and nurturing outstanding individuals with a diverse array of skills.”
Commenting on the contribution each of these leaders has made to the success of the company to date, Mr. Otis noted that, “Kim, Dave, John and JJ have each made a tremendous contribution in their current roles and we’re delighted they’ve agreed to take on these new responsibilities.”
Since all of the changes involve internal moves, the company anticipates a smooth transition and expects to continue to sustain solid sales and earnings momentum. Other members of Darden’s leadership team will remain in their current roles and continue to make their own significant contributions to the company’s growth and profitability.
Darden President and COO, Drew Madsen noted: “Our brands will benefit greatly from these changes. I am excited about the opportunity to leverage these talented individuals in new ways that can take our business to the next level. They are proven leaders who have directly contributed to our industry leading financial results over the past several years. Just as importantly, they also live out Darden’s core values every day and help create a culture where our employees feel valued and motivated to deliver industry-leading performance.
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