Red Lobster’s 35-Year-Old CEO Damola Adamolekun Leads Company Out of Bankruptcy

Source: PATRICK T. FALLON / Getty

Red Lobster is making a comeback from bankruptcy with the appointment of Damola Adamolekun as its new CEO. A wordly man, born in Nigeria , and raised in Zimbabwe , Amsterdam, Springfield, Ill. as well as Columbia, Maryland, his expertise is exactly what the franchise needed.

RELATED: Red Lobster Reportedly Mulling Filing For Bankruptcy, X Users Worry About Losing Cheddar Bay Biscuits

Adamolekun, former CEO of P.F. Chang’s and managing partner at hedge fund Paulson & Co, takes over as the company recovers from financial losses, leadership turnover, and restaurant closures that led to its Chapter 11 filing in May 2024. Under his leadership, P.F. Chang’s revenue grew to $1 billion, and he now aims to revitalize Red Lobster by securing financial backing and investing over $60 million into the business.

RELATED: Has Flavor Flav SAVED Red Lobster?

The restaurant chain, now privately held, operates 545 locations across the U.S. and Canada. Adamolekun expressed confidence in the brand’s future, stating that Red Lobster is entering a new chapter of growth and resilience.

Source: The DMV Daily

READ MORE :

Get Breaking News & Exclusive Content in Your Inbox: Thank you for subscribing! Please be sure to open and click your first newsletter so we can confirm your subscription. Email

The post Red Lobster’s 35-Year-Old CEO Damola Adamolekun Leads Company Out of Bankruptcy appeared first on Majic 102.3 – 92.7 .

The post Red Lobster’s 35-Year-Old CEO Damola Adamolekun Leads Company Out of Bankruptcy appeared first on 92 Q .