July 28 Darden Restaurants Inc said Clarence Otis would step down as chairman and chief executive, buckling under pressure from activist investors Barington Capital Group LP and Starboard Value LP.
Darden, whose shares rose 4.6 percent after the bell, also
said it would separate the two roles.
Otis, who has been at the helm for a decade, will remain as CEO until a successor is appointed or until year-end.
Darden said it appointed independent lead director, Charles Ledsinger Jr as independent non-executive chairman, effective immediately. (Reporting by Devika Krishna Kumar in Bangalore)
Critics say Whole Foods deal would give Amazon an unfair advantage
WASHINGTON, June 21 While antitrust experts expect Amazon.com Inc's bid for Whole Foods Market Inc to win regulatory approval, some critics argue the deal should be blocked because it gives the online retailer a nearly unstoppable head start toward domination of online grocery delivery.