Darden said late Monday that long-time chairman and chief executive officer Clarence Otis was stepping down, but staying on until December 31, 2014 or when a successor is named, whatever happens first. Appointed as chief executive officer on November 29, 2004, Otis has overseen a series of operating mistakes that have crushed Darden's financial results. For example, from the quarter ended November 28, 2004 when Otis was appointed as CEO to the quarter ended May 25, 2014, Darden's return on equity has fallen to 13.58% from 19.22%. What trends in the restaurant business did Otis fail to recognize? Brian Sozzi details them all.