Darden retains Russell Reynolds for CEO search Darden announced that it has retained global executive search firm Russell Reynolds Associates to assist the company with the recruitment of its next CEO. As previously announced, Clarence Otis is stepping down as Chairman and Chief Executive Officer of Darden. To ensure a smooth transition, Charles Ledsinger has been appointed Independent Non-Executive Chairman of the Board, and Otis has agreed to continue serving as Chief Executive Officer of Darden until the earlier of the appointment of his successor or December 31. Ledsinger is leading the search along with the Board's Nominating and Governance Committee, which consists solely of independent directors. Russell Reynolds Associates will work closely with the Committee and the Darden board.
Opco reiterates Darden as a top idea after CEO news Oppenheimer reiterates Darden as a top idea after the company removed the temporary status of CEO Gene Lee. Opco views the development as an incremental positive and reiterates an Outperform rating on the name.