Summary
Darden Restaurants, Inc. (DRI) filed an 8-K on November 3, 2008, to announce a change in its Board of Directors. The company increased its board size from 11 to 12 members and appointed Christopher J. (CJ) Fraleigh as a new director, effective immediately. The board has determined that Mr. Fraleigh meets the independence requirements set by the company and the New York Stock Exchange.
Key Highlights
- 1Darden Restaurants, Inc. has expanded its Board of Directors from 11 to 12 members.
- 2Christopher J. (CJ) Fraleigh has been appointed as a new director to the Board.
- 3The appointment of Mr. Fraleigh is effective as of November 3, 2008.
- 4The Board has confirmed that Mr. Fraleigh meets the criteria for independence.
- 5Mr. Fraleigh was elected without any undisclosed arrangements or relationships with the company.
- 6As a non-employee director, Mr. Fraleigh will be compensated according to the company's existing Director Compensation Program.
Frequently Asked Questions
The primary purpose of this 8-K filing is to announce the appointment of a new independent director, Christopher J. (CJ) Fraleigh, to Darden Restaurants, Inc.'s Board of Directors and the resulting increase in the board's size.
Christopher J. (CJ) Fraleigh is the new director appointed to Darden Restaurants, Inc.'s Board of Directors. The filing states he meets the independence requirements as defined by the company and the NYSE, and there are no undisclosed arrangements or relationships with the company requiring disclosure.
As a non-employee director, Mr. Fraleigh will receive compensation as outlined in Darden Restaurants, Inc.'s Director Compensation Program, which was previously detailed in the company's Proxy Statement filed on August 4, 2008.
No, this specific 8-K filing does not contain information regarding Darden Restaurants' financial performance, earnings, or operational updates. It solely pertains to a governance change involving the Board of Directors.