Seeking Alpha

Darden critics to CEO: Mind your own board

  • Darden Restaurants (DRI -0.9%) CEO Clarence Otis is on the hot seat again with critics harping on the amount of time the exec spends attending board meetings for companies other than Darden.
  • Otis earned close to $500K for sitting on the boards at Verizon and VF Corp. and all told had 76 board meetings outside of Darden that he was obligated to attend last year.
  • The busy schedule for Otis comes amid slumping sales trends at Darden's Red Lobster and Olive Garden chains.
  • What really has some shareholders steamed is that Darden paid to fly Otis to many of the outside meetings on the company's jets.
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Comments (3)
  • Adam Aloisi
    , contributor
    Comments (4239) | Send Message
    The old boys club at its best.
    14 May 2014, 03:57 PM Reply Like
  • ARG1
    , contributor
    Comments (1312) | Send Message
    This is an outrage!
    14 May 2014, 05:09 PM Reply Like
  • dowhatjd
    , contributor
    Comment (1) | Send Message
    The more these guys complain, the more the stock goes up!!! Fly away Otis!!!
    16 May 2014, 01:54 AM Reply Like
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