date:Jul 30, 2014
Darden Restaurants Inc's food fight with activist investors Barington Capital Group LP and Starboard Value LP entered a new phase on Monday, when the company said Clarence Otis would step down as chairman and chief executive officer.
In further concessions, Orlando-based Darden said it would separate the chairman and chief executive roles, and clear the way for some of Starboard's proposed directors to be elected at its annual meeting.
Barington and Starboard said the moves from the company di