date:Jul 30, 2014
d it finalized the $2.1 billion sale of Red Lobster to Golden Gate Capital, a deal opposed by both Starboard and Barington, which were pressing for more comprehensive changes. Investor ire surged after Otis resisted putting the sale to a shareholder vote.
A Darden representative said Otis' departure was a mutual decision between the CEO and the board and had been under discussion for some time. The exit package has not yet been determined.
With the Red Lobster sale complete and progress on our