Table of Contents Our Strategic Building Blocks 2004 Financial Highlights Operating Company Overviews Letter to Shareholders Leadership Defined    Inspiration    Motivation    Trust    Passion    Vision    Innovation Corporate Responsibility Financial Review 2004 Shareholder Information Board of Directors Corporate Officers
Edward Bermudez General Manager Red Lobster This native of Peru cannot say enough about Darden's commitment to cultural diversity. "They understand the value of having people with different backgrounds and different life experiences," Edward notes. "Our ability to serve our guests so well is a direct reflection of our ability to embrace diversity." It is a message that Edward is committed to extending well beyond the workplace. He is an active participant and leader in the Hispanic Chamber of Commerce at the local and state level and believes in the business value of community involvement. "You must know your guests and understand who they are and where they come from." It's a lesson that will continue to reward Edward Bermudez and his Company very well. Passion What does it take to manage one of the most successful restaurants in the world's largest casual dining seafood restaurant company? Build a cohesive team. Set clear expectations. Communicate constantly. And, lead by example – consistently. "You say what you do and you do what you say," advises Edward Bermudez, General Manager of the Red Lobster in Wayne, New Jersey. His restaurant is consistently one of the company's top performers and he has a reputation for improving the guest experience in every restaurant where he has worked. "If your crew has an excellent experience, then your guests will have an excellent experience," says Edward. He attributes much of his ability to create this experience for his crew and guests to training. As a general manager, Edward participates in a variety of continuing education classes, personifying one of Darden's core values – always learning, always teaching. In fact, the management path at Darden begins with a 12-week Manager-In-Training (MIT) program that focuses heavily on leadership skills, such as coaching and motivating. "We consider the restaurant general manager to be the most important position in the Company," says Al Frost, Darden's Senior Director of Leadership Development. "Behind every profit-and-loss statement is a general manager. It is imperative to have the right person with the right training in order to get the right results." Red Lobster's commitment to training and professional development at every level has helped the company grow into a market leader in the casual dining industry, with over $2.4 billion in sales in fiscal 2004. The coming year will be a significant one for Red Lobster. With a new senior management team at the helm, the company has undertaken a variety of initiatives to strengthen its competitive edge. These include continuing work on a simpler menu, a new LightHouse™ menu showcasing the natural nutritional benefits of seafood, an improved and highly acclaimed kid's menu, new advertising, and a revamped promotional strategy. Red Lobster's industry leadership truly begins at the local restaurant level with managers like Edward Bermudez. "One of the most rewarding aspects of my job as a manager is to develop new leaders," he notes. "I love going to training sessions and seeing old friends growing in new roles." That kind of passion will certainly help lead the casual dining seafood leader into a new era of growth.