ORLANDO, FL - Jeffrey Davis, former Executive Vice President and Chief Financial Officer for Wal-Mart U.S., has been appointed as Chief Financial Officer for Darden Restaurants, effective July 16, 2015.
Davis will report directly to Darden Restaurants CEO Gene Lee. Lee was thrilled to welcome Davis into the fold, highlighing his successful performance and multiple credentials.
“Jeff is an operationally-focused CFO with a track record of helping businesses thrive,” Lee said in a press release. “His wide-ranging experience and leadership style is a perfect fit for our organization.”
Davis, who succeeds Brad Richmond, will be responsible for the financial functions of the company, including finance and accounting, corporate reporting, investor relations, and more. As we previously reported, Richmond will be retiring at the end of the month after 32 years of service and will move into an advisory role to assist with the transition.
Prior to being appointed to the top financial post at Wal-Mart, Davis served as the Vice President of Finance for the Wal-Mart U.S. specialty division in 2006. He later held roles such as Executive Vice President and Treasurer for Wal-Mart Stores, Inc.
Darden operates restaurants chains including Olive Garden and LongHorn Steakhouse. In recent news, the company announced that it will spin off about 430 of its more than 1,500 restaurants into a real estate investment trust. Last June, Darden revealed that the deal will give the company the opportunity to acquire more real estate. The deal is expected to be complete by the end of the year.
Darden Restaurants owns and operates more than 1,500 restaurants that generate $6.8 billion in annual sales and employs approximately 150,000 people.
