Bloomin’ Brands, Inc. and JANA Partners LLC announced the addition of Lawrence V. Jackson to the Bloomin’ Brands Board of Directors. In April, the two companies announced an agreement that included an increase to the size of the Board to ten members.
Jackson served as President and CEO of Global Procurement and Executive Vice President and Chief People Officer at Walmart, and in various executive roles at Dollar General Corporation, Safeway, Inc., and PepsiCo, Inc. He is currently a Senior Advisor at New Mountain Capital, LLC. Jackson also serves as Chairman of the Board for SourceMark, LLC; he was CEO of SourceMark from 2010-2012.
“Lawrence bring new and valuable expertise that will complement our Board of Directors,” said Jim Craigie, Chairman of the Board. “Lawrence’s leadership in the global procurement space, will improve our ability to maximize shareholder value.”
David Deno, CEO of Bloomin’ Brands, Inc. added, “We selected Lawrence with JANA Partners because he will bring unique perspectives that will be invaluable for creating long-term sustainable growth. I look forward to working with them.”
“We have developed a good working relationship with the Board of Directors and Dave holds Lawrence in the highest regard,” said Barry Rosenstein, Managing Partner of JANA Partners. “We are encouraged by the steps the Company has been taking, including these director additions, and by the Board’s ongoing commitment to pursuing all avenues to create stockholder value.”
Jackson will serve on the Audit Committee.
