Ricardo Cardenas is the CEO of Darden Restaurants, Inc., a leader in the dining industry known for popular brands like Olive Garden and LongHorn Steakhouse. Born in 1968, Cardenas has been with the company for a long time, starting out as an hourly worker in 1984. Over the years, he climbed the ranks through roles in finance and strategy, eventually becoming CFO and then President before taking on the CEO position in May 2022. Under his leadership, Darden has seen significant growth, achieving a record $10.5 billion in sales in fiscal 2023. His approach to compensation reflects a pay-for-performance philosophy, meaning his salary and bonuses are tied to how well the company does. For 2023, he received a total compensation package of about $11 million, with incentives aimed at driving both profitability and sales growth. Another interesting fact is his insider trading activities, where he has repeatedly bought shares, especially during periods of stock increases, hinting at his belief in the company's future success. With a demonstrated knack for building a solid restaurant empire and a commitment to aligning executive compensation with company performance, Cardenas continues to play a crucial role in shaping Darden's success.

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Ricardo Cardenas

CEO of Darden Restaurants

Education

Not specified

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Consumer Cyclical

Born

March 10, 1968 - 57 years ago

CEO of Darden Restaurants for

2 years 10 months (May 2022 - Present)

Previous Experience

President and Chief Operating Officer since January 2021; Senior Vice President, Chief Financial Officer from 2016; Senior Vice President, Chief Strategy Officer from 2015 to 2016; Executive Vice President of Operations for LongHorn Steakhouse from 2013 to 2014; Senior Vice President of Finance for Red Lobster from 2010 to 2012.

Rivals

Competitors/colleagues of Ricardo Cardenas

Rajesh Subramaniam

CEO of FedEx

2023 Compensation

Stock

$2.25M

Salary

$1.45M

Bonus

$0.00

Other

$1.66M

Total Holdings

$34.52M

Kevin Sheehan

CEO of Dave & Buster's Entertainment

2022 Compensation

Stock

$1.88M

Salary

$342.12K

Bonus

$794.75K

Other

$350.00

Total Holdings

$15.80M

Jerry Morgan

CEO of Texas Roadhouse

2022 Compensation

Stock

$1.10M

Salary

$972.50K

Bonus

$0.00

Other

$2.98K

Total Holdings

$15.28M

Wyman Roberts

CEO of Brinker International

2022 Compensation

Stock

$0.00

Salary

$0.00

Bonus

$0.00

Other

$0.00

Total Holdings

$37.29M

David Overton

Founder and CEO of Cheesecake Factory

2023 Compensation

Stock

$200.00K

Salary

$900.00K

Bonus

$250.00K

Other

$100.00K

Total Holdings

$17.10M

David J. Deno

CEO of Bloomin' Brands, Inc.

2022 Compensation

Stock

$0.00

Salary

$1.00M

Bonus

$897.97K

Other

$19.02K

Total Holdings

$6.11M

Holdings

See how much did Ricardo Cardenas make over time.

Ricardo Cardenas has a significant stake in Darden Restaurants, showcasing his confidence in the company. His insider trading activities reflect a consistent pattern of strategic buying, particularly when the stock is on the rise. For instance, as of December 2023, his holdings reached approximately $11.3 million, up from earlier values where he benefited from consistent stock growth over the years. Notably, in fiscal 2021, his holdings peaked at around $7.3 million and continued to increase despite market fluctuations. His decisions seem to align closely with company performance, and as he's been actively growing his position in shares, it signals a strong belief in Darden’s ongoing growth and profitability. This commitment to his holdings highlights the confidence he has in steering Darden toward a successful future, reinforcing that his financial interests are in sync with the company’s trajectory.

Mar 18, 2025

DRI @ $188.07

TSCO @ $52.65

Total Stock Sold

$20.92M

DRI

$20.92M

146,558 DRI shares

What if they kept their stock?

If Ricardo Cardenas didn't sell their stock, today they would have:
Extra DRI146,558 shares worth $9.43M.
This is -54.93% and $11.49M less than what they got when they sold the stock.

Charitable Transactions

DRI

8,169 shares

DRI

Recent Charitable Transactions

DRI

2,172 shares

DRI

Dec 26, 2023

Charity

DRI

2,149 shares

DRI

Dec 20, 2023

Charity

DRI

1,500 shares

DRI

Jul 6, 2023

Charity

DRI

348 shares

DRI

Dec 22, 2021

Charity

DRI

2,000 shares

DRI

Dec 24, 2018

Charity

Insider Trading

See recent insider trades of Ricardo Cardenas.

TSCO

620 shares

TSCO

May 8, 2024

Received

DRI

2,172 shares

DRI

Dec 26, 2023

Charity

DRI

2,149 shares

DRI

Dec 20, 2023

Charity

TSCO

$16.50K

TSCO at $203.05/share

Oct 2, 2023

Received

DRI

$3.95M

DRI at $170.04/share

Jul 24, 2023

Sale

DRI

1,500 shares

DRI

Jul 6, 2023

Charity

TSCO

$16.50K

TSCO at $221.10/share

Jul 3, 2023

Received

TSCO

652 shares

TSCO

May 10, 2023

Received

TSCO

$16.58K

TSCO at $235.04/share

Apr 3, 2023

Received

DRI

$1.97M

DRI at $155.02/share

Mar 28, 2023

Sale

Compensation History

See how much did Ricardo Cardenas make over time.

In the fiscal year 2023, Ricardo Cardenas received a total compensation of about $11 million as the CEO of Darden Restaurants. This included a base salary of $1 million, a performance-based annual bonus of approximately $1.6 million, and other compensations valuing around $471,000. His bonus was tied closely to the company’s performance metrics, which included earnings per share and same-restaurant sales growth, indicating a clear link between his pay and the company's success. This pay structure illustrates Darden’s commitment to rewarding executives based on results and performance outcomes rather than guaranteed bonuses. In fact, last year, Cardenas' total compensation was drastically higher at around $8.5 million, which speaks volumes about the successful financial year the company had. This aligns with Darden's overall philosophy of linking executive pay to the company’s performance. His compensation package for the following fiscal year is set to increase slightly, reflecting Darden's confidence in his leadership and the company's potential for continued growth.

Year

2023

Total Compensation

$7.13M

Salary

$1.10M

Board Justification

Darden's compensation philosophy focuses on aligning executive pay with performance, with a significant portion of total compensation tied to company performance metrics such as EPS and same-restaurant sales growth.

Bonus

$1.75M

Board Justification

The annual incentive amounts awarded for fiscal 2024 were based on the Target Bonus Opportunity multiplied by the Company performance rating, resulting in a payout of 108% of target.

Other

$471.17K

Board Justification

Other compensation includes perks such as a company car allowance, contributions to defined contribution plans, insurance premiums, and dividends on vested stock.

Restricted Stock

$3.80M(25.75K RSU)

Board Justification

The stock awards that vested in 2023 were restricted stock units (RSUs) that fully vest on the third anniversary of the grant date.

Performance Metrics

The performance metrics for determining the CEO's compensation included Darden Adjusted Diluted Net EPS and same-restaurant sales growth.

Other Darden Restaurants CEOs

Here are other CEOs of Darden Restaurants

Eugene I. Lee, Jr.

Ex-CEO of Darden Restaurants

February 2015 - May 2022