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  "documentTitle": "Darden Restaurants, Inc. (DRI)",
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  "authorName": "Starboard Value",
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  "presentationDate": "2014-09-11 00:00:00",
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  "notes": "Uses strong, accusatory language to frame the Board's actions as a breach of fiduciary duty.",
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      "kind": "callout",
      "text": "If we let the incumbent Board members and management team continue in their ways, we believe Olive Garden may become the next Red Lobster...an iconic American brand destroyed by Darden's Board and management",
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      "kind": "callout",
      "text": "If we let the incumbent Board members and management team continue in their ways, we believe Olive Garden may become the next Red Lobster...an iconic American brand destroyed by Darden’s Board and management",
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      "text": "We published two detailed presentations and sent seven letters urging the Board to listen to the request of shareholders and put the Red Lobster separation on hold. Unfortunately, the Board chose to enter into, what we believe to be, a value destructive transaction by signing a binding commitment before holding the validly requested special meeting.",
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      "text": "Shareholders tried to ask the Company to pause and reconsider the plan, with a substantial majority of shareholders formally requesting that Darden hold a special meeting to discuss this very topic.",
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      "text": "Through the hurried Red Lobster sale, the Board ignored the request of shareholders to hold a special meeting and destroyed value that we believe was easily avoidable:",
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      "kind": "paragraph",
      "text": "On May 16, 2014 Darden announced that it had signed an agreement to sell its Red Lobster business and real estate assets for approximately $1.6 billion in net proceeds in a transaction that was not subject to a shareholder vote.",
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      "text": "Vote for change",
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      "kind": "title",
      "text": "Vote on Starboard's WHITE proxy card today",
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      "text": "The current Board and management team committed one of the most egregious violations of shareholder trust we have ever seen",
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