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The table highlights specific high-potential cells with green circles.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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246
Includes footnotes regarding assumptions for franchise fees, unit volume, and valuation multiples.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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247
The slide uses a comparison table structure to map strategic pillars against specific actions and success factors.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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249
Includes a reference to previous slides 254-255.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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250
Uses a nested bullet structure to build a logical argument for franchising in specific geographic markets.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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251
Darden Restaurants, Inc. (DRI)Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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252
The slide uses historical stock performance charts to validate the thesis that franchising drives superior shareholder returns compared to the S&P 500.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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253
The table maps four peer brands (Chili's, TGIF, Outback, Texas Roadhouse) against unit counts and franchise status by state.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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254
Includes specific callouts for Northern CA, Northeast corridor, and Philadelphia market performance.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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255
Uses maps to contrast current store density with potential franchising expansion zones.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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256
Uses two waterfall charts to demonstrate the net cash flow impact of refranchising on low-volume vs high-volume stores.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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257
Darden Restaurants, Inc. (DRI)Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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258
Darden Restaurants, Inc. (DRI)Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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260
The slide uses a process-oriented layout to define a 100-day and ongoing implementation timeline.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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261
The slide uses a Gantt-style visualization to show assessment vs. implementation phases for 8 distinct business initiatives.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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271
The slide uses a callout box at the bottom to summarize the core thesis.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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272
Darden Restaurants, Inc. (DRI)Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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273
Uses a quote from Moody's to undermine management's narrative regarding the credit rating impact of the divestiture.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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274
Uses Moody's rating criteria to derive a synthetic credit score.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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275
Darden Restaurants, Inc. (DRI)Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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276
The slide uses a conservative $350M figure for the illustrative sale, referencing a broader Real Estate Primer.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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277
Includes three distinct tables: Portfolio Sale Assumptions, Remaining Real Estate, and Illustrative Impact of Portfolio Sale on Leverage.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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278
The slide explicitly mentions a 'Real Estate Primer' URL and provides specific financial assumptions for the REIT spinoff model.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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279
Part of a multi-step proposal for real estate separation.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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282
This slide details the mechanics of a proposed corporate restructuring (spinoff) as part of an activist campaign.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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283
Includes a synthetic credit rating model based on Moody's criteria.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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284
Includes a waterfall-style bar chart and a scenario table comparing payout ratios under different EBITDA improvement assumptions.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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286
The slide uses a two-column layout to contrast the 'Why' (thesis) with the 'How' (priorities/plan).Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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288
The slide uses a grid layout to present headshots, brief bios, and company logos for each nominee.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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293
The slide uses external analyst reports to validate the activist's thesis.Darden Restaurants, Inc. (DRI) · Jeffrey C. Smith
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