Hedge fund bosses became waiters


Food for thought.

After Starboard Value took over the board of Darden Restaurants, the hedge fund wanted its newly minted directors to have a feel for the business. So it put them to work.

Bloomberg News reports that every board member worked a night in a restaurant, said Starboard Chief Executive Officer Jeff Smith, who also is Darden’s chairman. Smith said he waited on tables and served food in the kitchen.

'It was not undercover - everyone knew', Smith said in an interview on Bloomberg Television’s Market Makers with Stephanie Ruhle and Erik Schatzker. 'It was an amazing experience. We felt we could not make the decisions without knowing what was happening in the restaurants'.

To access the complete Bloomberg News article hit the link below:

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