New CEO, New Menu: Meet Red Lobster’s New CEO
Written by: Mariah Isom (@ma.riahh)
Let’s talk about the man rewriting the rules of seafood dining, Damola Adamolekun. At just 36 years old, Adamolekun has already left a bold mark on the restaurant industry, and now he’s poised to do the same at Red Lobster.
Born in Nigeria and raised across the globe in places like Zimbabwe, Amsterdam, and Columbia, Maryland, Adamolekun grew up surrounded by excellence. His parents were a neurologist and a pharmacist, so discipline, ambition, and hard work were part of his daily life.
By age 16, he had already opened his first stock portfolio. In college, he served as president of the investment club at Brown University while majoring in finance. After graduating, he worked on Wall Street and joined the investment firm Paulson & Co. in 2017.
In 2019, Adamolekun made his mark by proposing that Paulson & Co. purchase the restaurant chain P.F. Chang’s. Under his leadership as CEO, the chain bounced back post-pandemic, reaching close to $1 billion in annual revenue. After four successful years, he stepped down but not for long.
In August 2024, Adamolekun became the sixth and youngest CEO of Red Lobster. His leadership came at a critical moment, as Red Lobster was battling years of declining sales and had just filed for bankruptcy. Within months of Adamolekun’s leadership, Red Lobster exited bankruptcy and began a bold transformation.
His priorities? A fresh revamped menu, accessible pricing, improved customer service, and a warm, welcoming dining experience. He wasted no time getting to work and just in time for summer. Red Lobster’s Crabfest promotion launched with exciting new crab dishes and seafood boils.
And he’s not stopping there. Adamolekun plans to remodel 545 restaurant locations, breathing new life into a legacy brand.
We’re witnessing history in the making. As the summer heats up, so does Adamolekun’s vision for Red Lobster. One thing’s for sure—there’s a new sheriff in town, and he’s just getting started.
