{
  "docId": "019dd923-622c-750b-8b9c-dad126beff94",
  "docSlug": "416ab93b6285",
  "documentTitle": "Darden Restaurants, Inc. (DRI)",
  "authorId": "03_Starboard_Value",
  "authorName": "Jeffrey C. Smith",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2014-09-11 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 45,
  "pageCount": 294,
  "prevPage": 44,
  "nextPage": 46,
  "slideType": "villain_critique",
  "function": "name_villain",
  "density": "dense",
  "nDataPoints": 0,
  "notes": "Uses strong contrast language to frame the incumbent board as the villain and the activist slate as the hero.",
  "elementsJson": [
    "headline_text",
    "bullet_list"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-dad126beff94/45",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-dad126beff94",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-dad126beff94.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-dad126beff94#slide-45",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "We believe Darden’s proposed Board is at best suboptimal and potentially dysfunctional.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-fb94-7034-9dd9-f1d94438bdf6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.92,
        "x": 0.04,
        "y": 0.25
      },
      "kind": "list",
      "text": "Darden has proposed a Board that would be composed of: 4 incumbent directors, 4 last-minute hand picked nominees, and 4 vacancies left for Starboard recommended nominees.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1f388d22-4b4e-4cdb-89ba-4e2116b5ce20",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.92,
        "x": 0.04,
        "y": 0.86
      },
      "kind": "list",
      "text": "Starboard has also previously indicated its willingness (if all of its 12 nominees are elected) to add back up to two current Board members.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cd89d3ed-5233-4fca-811e-3552538f9b68",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.92,
        "x": 0.04,
        "y": 0.8
      },
      "kind": "list",
      "text": "Our nominees are ready, willing, and able to turn around Darden – with a detailed transformation plan in hand.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d7a1f6ad-e491-4acc-8d5e-b3a8dfeea111",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.92,
        "x": 0.04,
        "y": 0.53
      },
      "kind": "list",
      "text": "We believe Starboard’s proposed Board is the best solution, featuring a cohesive slate of world class candidates with unique and complementary skills.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f4703105-b59d-4fd6-93f9-b1c5e3bf356c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.92,
        "x": 0.04,
        "y": 0.15
      },
      "kind": "paragraph",
      "text": "The incumbent directors have been at the forefront of terrible strategic decisions, unacceptable corporate governance, and poor compensation practices.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "676c0fd2-c230-4006-8720-73e52e458777",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.92,
        "x": 0.04,
        "y": 0.03
      },
      "kind": "title",
      "text": "We believe Darden’s proposed Board is suboptimal and not in the best interest of shareholders",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ae41fdb7-06de-4794-8da8-92871c6ab8a1",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "antagonist-introduction",
      "slug": null,
      "matchId": "22c4589c-cdc7-4a51-8384-337ecab9f1eb",
      "evidence": "Frames incumbent board as 'suboptimal' and 'dysfunctional' with 'terrible strategic decisions'.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 60,
      "from": 41,
      "beatId": "78557f10-85d6-4351-8c5b-ad7ded716db0",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Struggle",
      "beatSlug": "overcoming-monster-the-struggle",
      "evidence": "The document details the challenges faced by Darden and the need for change.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}