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Olive Garden CEO to Walk Away With Millions After Stepping Down

Clarence Otis will make $23,294 a week just for quitting his job.


While Olive Garden's parent company, Darden, is its battling breadstick-hating investors, it's throwing millions of dollars at its current CEO to quit his job. Darden CEO Clarence Otis announced in July that he would step down from his position at the flailing company by the end of this year, and the compensation he will receive for doing so will definitely ease the sting of unemployment.

According to a report from the Institute for Policy Studies, Otis will receive $2,422,600 in severance pay, which Buzzfeed notes works out to around $23,294 a week for the next two years. He will also receive over $28 million in option and stock awards. Oh, and he also has over $5 million in retirement funds from the company. All together, Otis will walk away with nearly $36 million when he leaves Darden.

Otis isn't the only one walking away with millions: Two other soon-to-resign Darden executives will also leave with hefty severance packages. The outgoing COO and the Chief Restaurant Operations Officer will receive $21 million and $11 million respectively in salary, stock options, and retirement money. This is all while many of Olive Garden's servers make a base pay of around $2.13 per hour and must fight against investors who want to cut labor costs even further. How about them breadsticks?

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