Barington Asks Darden To Replace CEO

Barington Capital Group LP Wednesday said it has lost confidence in Darden Restaurants, Inc. (NYSE:DRI)’s chief executive officer Clarence Otis.

In its letter released today, New York-based Barington said Darden Restaurants, Inc. (NYSE:DRI) would be worth ‘substantially more’ if the CEO were more effective.

Barington sought Darden to split

Last year, activist investor Barington Capital urged Darden Restaurants, Inc. (NYSE:DRI) to split into two separate companies. It was reported that the investor group pushed Darden to create one company with its Olive Garden and Red Lobster restaurants and another with its higher-growth...