date:Dec 20, 2013
since 2006, will become chief financial and administrative officer of Red Lobster upon completion of the transaction. The completion of the contemplated spin-off is subject to customary conditions and is expected to close in early fiscal 2015, which begins May 26, 2014.
Following the separation, Darden expects it will achieve higher and more consistent same-store sales and earnings per share growth and generate significant free cash flow. The company expects to save at least $60 million annuall