Red Lobster, a prominent name in the fast-casual dining industry, has appointed 35-year-old Damola Adamolekun as its new CEO. Adamolekun, a Nigerian native, steps into the role following his successful tenure as the top executive and the first Black CEO of the Asian-fusion chain P.F. Chang’s. During his time there, he helped drive the company to generate approximately $1 billion in revenue, according to the National Restaurant Association.
Adamolekun takes the helm of Red Lobster at a pivotal moment, as the restaurant chain emerges from Chapter 11 restructuring. The company has been acquired by RL Investor Holdings LLC, marking the beginning of a fresh chapter for the brand, which has made a lasting impression on millions of consumers over the decades.
In a statement, Adamolekun expressed his enthusiasm about leading Red Lobster, a brand he has personally admired since his first dining experience at one of its locations as a child. He emphasized the chain’s long-standing commitment to providing high-quality seafood at affordable prices, a legacy that dates back to the opening of the first Red Lobster restaurant in 1968.
Looking ahead, Adamolekun highlighted plans for the company’s future under its new ownership structure. With a $60 million commitment in new funding, Red Lobster aims to invest in comprehensive improvements across the brand. Adamolekun is eager to collaborate with the company’s 30,000-strong workforce to bring these transformative plans to life, ensuring the restaurant chain remains a beloved destination for seafood lovers.
