John Wilkerson
DARDEN RESTAURANTSAbout John Wilkerson
John Wilkerson, age 54, is President‑Elect of Olive Garden, appointed in June 2025 and assuming the role effective September 1, 2025. He has over three decades at Darden, progressing from an hourly employee in 1992 through operations and finance roles, including President of Bahama Breeze (2016–2018) and President of Cheddar’s Scratch Kitchen (2018–June 2025) . Darden’s fiscal 2025 backdrop included 6.0% sales growth to $12.08B and diluted EPS of $8.88, with pay programs highlighting an 11.3% TSR (EPS growth plus dividend yield) and SRS growth of 2.0%—context for the performance metrics that drive executive incentives .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Darden Restaurants (Bahama Breeze) | President | 2016–2018 | Led brand operations and growth during post‑pandemic normalization; operational execution across menu and service . |
| Darden Restaurants (Cheddar’s Scratch Kitchen) | President | 2018–Jun 2025 | Oversaw operations, standardization and growth in value‑oriented casual segment . |
| Darden Restaurants | GM, Red Lobster; Senior Financial Analyst; multiple operations leadership roles | Various (after 1992) | Built multi‑brand operating and financial skillset; prepared for brand leadership at scale . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed | — | — | No external directorships or roles disclosed in proxy/filings . |
Fixed Compensation
- Base salary and target bonus % for John Wilkerson are not disclosed in the 2025 proxy; Darden generally uses market benchmarking and pay-for-performance with no employment agreements for NEOs and strong governance (independent consultant, clawback, stock ownership requirements) .
Performance Compensation
Darden’s annual and long-term incentive design (applies to executives and brand leaders) uses clear operating metrics and vesting structures:
- Annual Incentive Plan (AIP): For corporate executives, 70% Adjusted Diluted Net EPS and 30% SRS; for brand leaders, 70% Business Unit Operating Income and 30% Brand SRS, with 0–200% payout curves and a “strike zone” around targets .
- FY2025 Certified Results (context for Olive Garden as John assumes leadership):
| Metric | Weighting | Target | Actual | Payout (% of Target) | Vesting/Timing |
|---|---|---|---|---|---|
| Darden Adjusted Diluted Net EPS | 70% | $9.48 | $9.55 | 100% | Paid after fiscal year end . |
| Darden SRS | 30% | 1.9% | 2.0% | 100% | Paid after fiscal year end . |
| Olive Garden Operating Income | 70% | $814.7M | $814.8M | 100% | Paid after fiscal year end . |
| Olive Garden SRS | 30% | 2.0% | 1.7% | 100% | Paid after fiscal year end . |
- Long-Term Incentives (2015 Plan): 50% PSUs on three‑year relative TSR vs S&P 500 (0–200% payout), 25% RSUs, 25% stock options; options and PSUs vest 50% at year 3 and 50% at year 4; RSUs vest 100% at year 3 .
- FY2023–2025 PSU outcome: TSR ranked 84th percentile, paying 200% of target, vesting 50% in July 2025 and 50% in July 2026 .
Equity Ownership & Alignment
- Stock ownership guidelines: CEO 6x salary; other officers 4x; mandatory hold of 50% of net shares until compliant; each NEO was in compliance as of May 25, 2025 .
- Hedging/pledging: Company policy prohibits short sales, hedging, pledging, and margin accounts for directors and executive officers—reducing misalignment and leverage risk .
- Beneficial ownership: The proxy’s management table does not disclose John Wilkerson’s share count; he is identified as an executive officer (President‑Elect Olive Garden) but not a named executive officer; overall governance emphasizes robust ownership requirements .
Employment Terms
- Appointment: President‑Elect of Olive Garden in June 2025; assumes President role September 1, 2025 .
- Employment agreements: Darden states no employment agreements for NEOs; change‑in‑control agreements provide 1.5–2.0x salary+target bonus for NEOs (double‑trigger within 24 months). Applicability to Wilkerson specifically is not disclosed; clawback policy applies broadly to incentive compensation on restatement (3‑year lookback) .
- Insider trading policy and governance: Strong clawback, insider trading prohibitions, and annual stock grant timing/valuation rules to prevent manipulation .
Investment Implications
- Alignment: As Olive Garden head, Wilkerson’s incentives will be tightly linked to operating income and same‑restaurant sales, which historically anchor Darden’s AIP; vesting of RSUs/options/PSUs over 3–4 years encourages multi‑year execution continuity .
- Execution risk: Leadership transition from Dan Kiernan (retiring Aug 31, 2025) elevates near‑term execution scrutiny; Olive Garden’s FY2025 performance met operating income targets with flat payout, a stable baseline for Wilkerson’s tenure .
- Trading signals: Hedging/pledging prohibitions mitigate forced-sale risk; watch standard vesting cycles (July grants under the 2015 Plan) that may create calendar‑based selling windows as awards settle, though mandatory ownership requirements temper net dispositions .
- Track record: Wilkerson’s deep Darden experience across brands and operations reduces transition risk and supports continuity in “Brilliant with the Basics” execution in the largest segment driver (Olive Garden) amid Darden’s medium‑term growth plan and 60–65 projected openings in FY2026 .