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Red Lobster CEO: Comeback King or Risky Bet?
19 Dec
Summary
- CEO Damola Adamolekun aims for restaurant industry's greatest comeback.
- He emphasizes self-improvement and becoming a better person to lead.
- Adamolekun previously led P.F. Chang's through a successful turnaround.
Damola Adamolekun, the 36-year-old CEO of Red Lobster, has declared his intention to engineer the restaurant industry's most significant comeback story. He recently shared his leadership philosophy, emphasizing that true leadership stems from continuous self-improvement and cultivating personal strengths.
Adamolekun assumed leadership of Red Lobster in August 2024, inheriting a company that had navigated bankruptcy and numerous closures. His prior success includes a substantial turnaround of P.F. Chang's, where he implemented store remodels and operational upgrades, driving significant revenue growth.
He is now applying a similar strategic playbook to Red Lobster, a move he acknowledges is risky given the company's recent past. Adamolekun's proactive approach included secretly visiting restaurants nationwide to deeply understand the brand and its customers before officially taking the CEO role.
