SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
July 10, 1997
Darden Restaurants, Inc.
(Exact name of registrant as specified in its charter)
Florida 1-13666 59-3305930
(State or other jurisdiction (Commission (IRS employer
of incorporation) file number) identification No.)
5900 Lake Ellenor Drive, Orlando, Florida 32809
(Address of principal executive offices)
Registrant's telephone number, including area code:
(407) 245-4000
Not Applicable
(Former name or former address, if changed since last report)
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Item 5. Other Events.
On July 10, 1997, the Registrant issued a news release entitled
"Darden Restaurants Announces Investor Relations Changes,"
announcing that Clarence Otis, Jr. has been promoted to Senior Vice
President, Investor Relations and Treasurer.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit No. Description
99 Press release dated July 10, 1997,
entitled "Darden Restaurants Announces
Investor Relations Changes."
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: July 15, 1997 DARDEN RESTAURANTS, INC.
By: /s/ C.L. Whitehill
C.L. Whitehill
Senior Vice President,
General Counsel and Secretary
<PAGE>
INDEX TO EXHIBITS
Exhibit Number 99 Page
Press release dated July 10, 1997, entitled
"Darden Restaurants Announces Investor Relations
Changes." 4
EXHIBIT 99
Press Release dated July 10, 1997 of Darden Restaurants, Inc.
DARDEN RESTAURANTS ANNOUNCES
INVESTOR RELATIONS CHANGES
ORLANDO, FL -- Darden Restaurants, Inc. announced today Clarence Otis, Jr. has
been promoted to Senior Vice President, Investor Relations and Treasurer. Otis,
who has been the company's vice president/treasurer since June 1995 and has more
than 15 years experience in finance, will take over the Investor Relations area
from Ted Blood, who is leaving the company to take another position.
Darden also announced the promotion of Matthew Stroud to Director of Investor
Relations. He will assume the day-to-day investor relations responsibilities,
reporting to Otis.
"This promotion recognizes the important contributions Clarence has made as our
corporate treasurer, and the fact that he is ideally suited to assume
responsibility for the Investor Relations Department," said Joe Lee, Chairman
and CEO, adding that Otis will have "a direct working relationship" with him.
"With his Wall Street experience, comprehensive financial background and
experience with our credit and banking relationships, his broad perspective will
help align our communications with the financial and investment communities."
Prior to joining Darden, Otis was Managing Director and Manager of Public
Finance with Chemical Securities, Inc. in New York for more than three years,
where he managed a section of their municipal securities group. He's also worked
for Siebert Municipal Capital Group as Managing Director and Principal; The
First Boston Corporation as Vice President, Public Finance; and Kidder, Peabody
& Company as Assistant Vice President, Public Finance. He holds a law degree
from Stanford Law School and spent four years as a securities litigator.
Matthew Stroud has been with the company for seven years, most recently as
manager, Strategic Analysis in the Investor Relations Department. Before that he
was a senior financial analyst for the corporation, Red Lobster and Red Lobster
Japan. Stroud has an MBA from Brigham Young University.
Blood will exit his post as Senior Vice President, Investor Relations and
Strategic Planning, effective July 28, to take a position with Times Mirror
Company in Los Angeles.
"Ted was a key member of our 'spin-off" team when we separated from General
Mills and played an important role in developing a strong relationship with our
shareholders and the financial community, and in establishing our strategic
direction," said Lee. "We're happy Ted will be able to be closer to his family
and wish him and his wife, Martha, all the best in the future."
Darden Restaurants, headquartered in Orlando, Florida, owns and operates Red
Lobster, The Olive Garden and Bahama Breeze restaurants.
