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  "documentTitle": "Darden Restaurants, Inc. (DRI)",
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  "authorName": "Jeffrey C. Smith",
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  "presentationDate": "2014-05-22 00:00:00",
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      "text": "Now that Darden's egregious corporate governance practices have directly resulted in a substantial and easily avoidable destruction of shareholder value, in clear defiance of a strong shareholder directive, it is apparent that the majority of Darden's current Board must be replaced.",
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      "text": "Ms. Atkins (no relation to Shan Atkins) has served on more than 20 public company boards and has been a CEO three times, dramatically scaling, building, and repositioning businesses. She has been recognized for her broad experience and thought leadership in corporate governance matters, including executive compensation best practices. She was the co-founder of Ascend Communications and CEO of NCI, and has a strong skill set in sales and marketing, and an extensive knowledge of social media, digital marketing, adtech, and consumer loyalty programs.",
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      "text": "It has been clear for some time that some level of change would likely be required at Darden to increase value for shareholders, as the current Board has presided over an extended period of poor stock price performance, poor operating performance, and poor corporate governance. The current Board also lacks meaningful restaurant operating experience, and has been unable to effectively oversee a management team that also notably lacks credible restaurant operating experience at the CEO level. Now that Darden's egregious corporate governance practices have directly resulted in a substantial and easily avoidable destruction of shareholder value, in clear defiance of a strong shareholder directive, it is apparent that the majority of Darden's current Board must be replaced. We believe Darden's current Board clearly lacks the objectivity and perspective needed to make decisions that are in the best interests of shareholders.",
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      "text": "Therefore, yesterday we delivered a letter to Darden formally nominating 12 highly qualified candidates for election at the 2014 Annual Meeting. While we have not yet determined the exact number and composition of our slate, we have carefully selected a group of candidates with a unique set of skills and perspectives directly relevant to Darden's business and current challenges, including experienced restaurant operators with expertise in Darden's major business lines, and experts in real estate, finance, turnarounds, supply chain, and, critically, effective public company governance and compensation programs. Further, these directors will commit to fairly and objectively representing the best interests of all shareholders.",
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      "kind": "quote",
      "text": "name for fear of retribution from the company. ‘If the board is so convinced [a Red Lobster spinoff] is such a great idea, then put it to a vote.’",
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      "text": "“If the board is so convinced [a Red Lobster spinoff] is such a great idea, then put it to a vote.” — New York Post",
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      "text": "WE HAVE NOMINATED A SLATE OF HIGHLY QUALIFIED DIRECTORS TO REPRESENT SHAREHOLDERS' BEST INTERESTS",
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