DARDEN RESTAURANTS, INC. (NYSE:DRI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 22, 2018, Darden Restaurants, Inc. (the Company) appointed David C. George, 62, as Executive Vice President and Chief Operating Officer, effective immediately. Mr. George had been President, Olive Garden and Executive Vice President, Darden Restaurants since March 2016, prior to which he was President, Olive Garden since January 2013. He served as our President, LongHorn Steakhouse from October 2007, when we acquired RARE Hospitality International, Inc. (RARE), until January 2013. Prior to the acquisition, he served as RARE’s President of LongHorn Steakhouse from May 2003 until October 2007. From October 2001 until May 2003, he was RARE’s Senior Vice President of Operations for LongHorn Steakhouse and from May 2000 until October 2001 was RARE’s Vice President of Operations for The Capital Grille.
On January 22, 2018, the Compensation Committee of the Board of Directors of the Company approved new compensation arrangements for Mr. George. Mr. George’s base salary will be $725,000 effective January 22, 2018. Mr. George’s target annual bonus under the Company’s annual cash incentive program remains unchanged. Mr. George’s new target annual equity grant under the Company’s long-term incentive program will have an aggregate value of $1,500,000.
Additional information about Mr. George and his appointment is included in the Company’s news release dated January 22, 2018 entitled “Darden Restaurants Announces Leadership Appointments” which is filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
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Item 5.02 |
Financial Statements and Exhibits. |
DARDEN RESTAURANTS INC ExhibitEX-99.1 2 ex991leadershipappointment.htm EXHIBIT 99.1 Exhibit Exhibit 99.1 Contacts: (Analysts) Kevin Kalicak (407) 245-5870FOR RELEASE @ 4:30pm EST (Media) Rich Jeffers (407) 245-4189DARDEN RESTAURANTS ANNOUNCES LEADERSHIP APPOINTMENTSORLANDO (January 22,…To view the full exhibit click here
About DARDEN RESTAURANTS, INC. (NYSE:DRI)
Darden Restaurants, Inc. is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues). As of May 29, 2016, the Company also had 50 restaurants operated by independent third parties pursuant to area development and franchise agreements. Olive Garden’s menu includes a range of authentic Italian foods featuring fresh ingredients and a selection of imported Italian wines. LongHorn Steakhouse restaurants feature a range of menu items, including fresh steaks and chicken, as well as salmon, shrimp, ribs, pork chops, burgers and prime rib.
