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  "documentTitle": "Darden Restaurants, Inc. (DRI)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
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  "presentationDate": "2014-09-11 00:00:00",
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  "notes": "Uses a contrast-based argument to frame the activist slate as more qualified for the specific task of CEO succession.",
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      "kind": "callout",
      "text": "We intend to run a full search including internal and external CEO candidates. In order to do this most effectively, we believe board members need to have the experience necessary to attract and hire the best possible candidate",
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      "text": "Starboard's nominees have cumulatively served on approximately 70 public company boards while the Darden nominees appear to have served on less than 20 public company boards.",
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      "text": "Importantly, none of the Company's proposed nominees have experience hiring an external CEO of a public company.\nIn contrast, our proposed slate has collectively been on public company boards that have recruited external CEOs in excess of 30 instances.",
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      "text": "Number of external CEOs hired: 30+",
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      "text": "Conducting a CEO search and recruiting a supremely-qualified CEO for a public company requires specific skill and experience.",
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      "text": "Source: Bloomberg. (1) After a thorough review of publically available information, it appears the Company's nominees do not have experience hiring an external CEO of a public company.",
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      "text": "Number of external CEOs hired as sitting board members of public companies(1)\nStarboard nominees: 30+\nCompany nominees: 0",
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      "kind": "title",
      "text": "Perhaps the most critical task of the new Board will be to hire the next CEO of Darden",
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