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Darden's Lee Shuffles Executive Hands

ORLANDO-Coming off a record fiscal third quarter profit of $66.2 million, the world's largest casual seafood restaurant chain (1,194 stores) names new presidents for Red Lobster and Olive Garden. Exiting presidents Bradley D. Blum and Dick Rivera move into a new vice chairman positions.

By Alex Finkelstein | Updated on April 01, 2002

ORLANDO-Not satisfied with record third-quarter earnings of $66.2 million (54 cents per diluted share), Darden Restaurants Inc. chairman Joe R. Lee plans to acquire additional properties this year as he grows his corporate team from within, the company says in a prepared statement. The company’s third quarter ended Feb. 24.

The new titles and responsibilities start today for Bradley D. Blum, 48 and Dick Rivera, 55, exiting presidents of the Olive Garden and Red Lobster restaurant divisions. Blum and Rivera move into the newly created positions of vice chairman, reporting directly to chairman Jeo R. Lee.

Drew Madsen, 45, executive vice president/marketing, Olive Garden (488 restaurants), is Olive Garden’s new president. Edna Morris, 50, executive vice president/operations, Red Lobster (663 restaurants), is Red Lobster’s new president.

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