Olive Garden Parent Darden Restores Full Executive Pay
As it starts to recover from the closure of most U.S. restaurants during the coronavirus pandemic's earlier stages, Darden Restaurants (NYSE: DRI) announced the restoration of its executives' pay to pre-coronavirus levels. The reduction of executive salaries was one of the cost-saving measures Darden took back in March and April, along with suspending dividends and furloughing many employees.
Darden Restaurants owns several casual restaurant chains, including Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, and Bahama Breeze. After a long period of closure to dine-in customers, the majority of restaurants are now open again. Rich Jeffers, a spokesperson for Darden, stated that the company has "financially stabilized the business and with 70% of our dining rooms now open, we are building momentum."
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Source Fool.com
