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Darden Restaurants, Inc.
6
as we grow market share, we do so with solid profitability. We believe this will translate into a
top-quartile S&P 500 total shareholder return, mirroring the level of return we have generated
since our debut as an independent, publicly-traded company in 1995.
BUILDING A VIBRANT CULTURE
Our work building strong brands and developing a more robust operating platform is heavily dependent
on a vibrant culture. We have to be a nimble organization capable of responding quickly and effectively
to capture new opportunities or address emerging business challenges. We have to be a values-
based organization to attract and develop the best people. And we need engaged employees who are
willing to embrace the transformational change we are undergoing by volunteering the discretionary
effort that ultimately separates the best companies in service industries from all others.
Darden has long had a strong culture. That comes through loud and clear in the results of our
ongoing employee surveys, which consistently show engagement levels well above restaurant
industry and overall corporate norms. It is also why, based upon a rigorous and comprehensive
assessment process, Darden earned recognition from
FORTUNE
magazine in 2011 as one of its
“100 Best Companies to Work For.”
Still, given how essential a vibrant culture is for sustained success, we paid considerable attention
during the downturn to this traditional area of strength. We invested in more robust workforce insights
to further enrich our understanding of the aspirations of employees at every level. We added training
and development resources and expertise to enable us to do a better job of helping people achieve
their dreams. And we buttressed our internal communications function to ensure our teams better
understand enterprise, brand and individual restaurant-level goals and objectives, why these make
sense and each person’s role in achieving them.
Conclusion
We operate in an industry that is part of the fabric of Americans’ lives. Your Company has a dominant
share position today, with total annual sales that are approximately double those of our nearest
competitor. And our focus on stronger brand building, developing an even more cost-effective
operating platform and creating a more vibrant culture leaves us well positioned to sustainably
and profitably grow market share going forward. That’s why we remain highly confident we will
achieve our long-term goal – which is to build a great company, now and for generations.
Thank you for being a shareholder and placing your trust in us.
Clarence Otis, Jr. Andrew H. Madsen
Chairman and Chief Executive Officer President and Chief Operating Officer