Red Lobster’s CEO is plotting the 'greatest comeback in the history of the restaurant industry'

Red Lobster’s CEO is plotting the 'greatest comeback in the history of the restaurant industry'

Fortunebusiness

Key Points:

  • Under CEO Damola Adamolekun, Red Lobster has turned around from bankruptcy and expects positive net income by fiscal 2026, with adjusted EBITDA projected to grow 43% between 2025 and 2027.
  • Adamolekun, formerly CEO of P.F. Chang’s, brings experience in leading restaurant chains through crises, having returned P.F. Chang’s to profitability during the COVID pandemic despite industry challenges.
  • Red Lobster is focusing on operational efficiency by eliminating unprofitable promotions like the endless-shrimp deal, renovating locations, and improving customer experience with updated decor and amenities.
  • The company aims to lower dining costs while maintaining quality, paring down the menu to popular items, and reintroducing