Darden Restaurants CEO Clarence Otis Jr., announces plans to combine some Olive Garden, Red Lobster restaurants
Clarence Otis Jr., CEO of Darden Restaurants. PHOTO/Allison Shirreffs
Darden Restaurants CEO Clarence Otis Jr., believes that his company is on track to achieving higher profits. The company has already began to combine its’ two biggest segments (the Olive Garden and Red Lobster) “under one roof”.
Darden Restaurants, whose other segments include LongHorn Steakhouse and Capital Grille, recently showed modest improvements in financial performance:
First quarter results for the new fiscal year show revenue increased 4.8 percent to US$2.03 billion, according to reports. But CEO Clarence Otis says consolidation of two of its biggest revenue streams will grow jobs in smaller communities — and increase its appeal.