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Bloomin' Brands says it appointed two new board members, and both have ties to Starboard Value, the activist fund that owns almost 10% of the Tampa-based restaurant giant.
Starboard, known on Wall Street for pushing for changes at Darden Restaurants, the parent company of Olive Garden and LongHorn Steakhouse, saw its stock value surge over the years after Starboard's initial involvement in 2014. Now Starboard is pushing for changes at Outback, Bloomin' Brands' premier chain.
New to the Bloomin' Brands board are Dave George, former chief operating officer of Darden Restaurants, and Jon Sagal, partner at Starboard.
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