Darden Urges Shareholders To Vote "FOR ALL" On BLUE Proxy Card - Quick Facts

(RTTNews) - Darden Restaurants Inc. (DRI) issued a statement regarding a September 25, 2014 report by Institutional Shareholder Services or "ISS". The report pertains to the election of directors to Darden's board at the company's 2014 Annual Meeting of Shareholders to be held on October 10, 2014.

The company believes that shareholders should be alarmed that ISS has urged wholesale change with virtually NO regard in its report to the positive improvement underway in Darden's operations, the risks associated with the full Board turnover that Starboard Value L.P. and its affiliates is seeking, and the meaningful enhancements made to Darden's leadership structure, including the search for a new Chief Executive and the company's new slate of independent director nominees, which would result in 8 of 12 directors new this year.

Contrary to ISS's view, Darden said it has heard from many shareholders who do not support ceding total control of the Board to Starboard and its nominees. While these shareholders support new perspectives, they also recognize the risks of the full board turnover that Starboard is seeking, risks that ISS appears to have ignored.

Darden's board recommends shareholders to vote ONLY on the BLUE proxy card "FOR ALL" of Darden's highly qualified, experienced and independent director nominees: Michael Barnes, Gregory Burns, Jeffrey Fox, Christopher Fraleigh, Steve Odland, Michael Rose, Maria Sastre and Enrique Silva. The shareholders can vote by mail, phone or internet following the instructions on the BLUE proxy card.