Activist investor Starboard Value, which unseated the entire board of Darden Restaurants Inc. in a 2014 proxy fight, can point to at least one sign that its campaign was successful. Sales growth at Olive Garden, Darden’s biggest chain, have bounced back over the past year and a half. Starboard is now shifting its attention elsewhere: The investment firm has been winding down its Darden stake, and Starboard’s Jeff Smith stepped down this week as the restaurant company’s chairman.
Photographer: David Paul Morris/Bloomberg
Olive Garden Makes Comeback After Investor Prodding: Chart
Before it's here, it's on the Bloomberg Terminal. LEARN MORE