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On September 30, 2015, Starboard Value LP, an activist investment firm disclosed a 3. 7 percent stake in Advance Auto Parts. Through a letter to Chief Executive Darren Jackson and a keynote presentation published on Starboard's website, Starboard Values believes that Advance Auto Parts shares have the potential to reach $350 each if the company takes steps to improve profit margins. The presentation also stated that "Advance Auto Parts has substantially underperformed compared to peers on almost any measure, including operating margins, revenue growth, and total shareholder return. " Roanoke, Virginia-based Advance Auto's sales have missed market expectations in four of the past six quarters. Starboard Value LP was behind the ouster of the entire board of restaurant operator Darden Restaurants Inc last year, owners of the Red Lobster/Olive Garden restaurants. Under market pressure in November 2015, Darren Jackson elected to resign his position as CEO effective January 2, 2016. On April 4, 2016, Advance announced Frito-Lay North America CEO Tom Greco would succeed Jackson as CEO. In the 16 months following Greco's appointment, Advance Auto stock has plummeted (45%).