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














