- CFO for the last eight years, Brad Richmond is out, effective March 2015, or sooner if a successor is found. Also exiting are Chief Human Resources Officer Daisy Ng and SVP Government and Community Affairs Bob McAdam.
- In addition to the management changes, Darden (NYSE:DRI) is streamlining support staff, affecting (cutting) about 60 employees. Another 25 open positions will be eliminated as well.
- In order to provide "greater line of sight for restaurant leadership teams," the company is eliminating one layer of field operations supervision for Olive Garden and LongHorn.
- Finally, Darden will shut down its aviation department, ceasing flight operations immediately and putting its aircraft on the block.
- Darden anticipates incurring one-time charges in FQ2 thanks to these changes.
- Source: Press Release
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