Red Lobster 2015 Annual Report Download - page 6

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2
As the Board continues its transition following the 2014 Annual
Meeting, Directors Betsy Atkins and Peter Feld, upon their
own recommendations as members of the Nominating and
Governance Committee, are not being nominated to stand for
re-election. As the Chair of the Nominating and Governance
Committee, Betsy Atkins was the main architect of the Company’s
substantial governance improvements which were designed to
ensure that the Company’s policies are aligned with shareholder
interests and corporate governance best practices. Peter Feld
served on each of the Nominating and Governance, Compen-
sation, and Finance and Real Estate Committees, and was an
important voice in the establishment of the current Board as
well as the decisions and operational changes made at the
Company subsequent to the Board’s election in October 2014.
The entire Board of Directors appreciates all that Betsy and
Peter have done for Darden and wishes them well in their
future endeavors.
EXECUTING A PLAN TO WIN
We will succeed by operating fantastic restaurants. In order
to improve the guest experience to drive frequency and
same-restaurant sales, we have implemented a “Back to Basics”
approach which is rooted in strong operating fundamentals:
• Improving culinary innovation and execution inside each
of our brands;
• Delivering attentive service to each and every one of our
guests; and
• Creating an inviting and engaging atmosphere inside
our restaurants.
We support these priorities with smart and relevant integrated
marketing programs that resonate with our guests. By delivering
on these operational and brand-building imperatives, we expect
to increase our market share through same restaurant sales
growth and deliver best-in-class protability.
We also recognize the unique differences of the seven full-service
restaurant brands we own. We decentralized areas where it
would aid the entrepreneurial decision making of each brand
while further dening how the Darden support structure can
enable them to achieve their ultimate potential. This includes:
1. Leveraging our scale to drive advantages in supply chain
and efcient General and Administrative (G&A) support;
2. Applying insights collected from our signicant guest and
transactional databases to enhance guest relationships
and identify new opportunities to drive sales growth; and
3. Relentlessly driving operating efciencies and continuous
improvement while ensuring a sense of urgency, account-
ability and a performance-driven culture.
INCREASING
SHAREHOLDER VALUE
While driving strong operational performance is our top priority,
we also have the responsibility to efciently allocate our capital
and utilize our valuable assets to drive shareholder value. To that
end, we recently announced a strategic real estate plan to pursue
a separation of a portion of the Company’s real estate assets.
The separation would be achieved through a combination of
selected sale leaseback transactions and the transfer of a portion
The comfortably sophisticated environment, sparkling
atmosphere and sounds of live jazz set the tone for an
exceptional dining experience at Eddie V’s.