Red Lobster’s Nigerian-Born CEO Leads Effort To Return Casual Dining To Glory Days

Red Lobster CEO Damola Adamolekun is working hard to bring diners back to the restaurant.

Red Lobster’s CEO is working hard to combat the sharp decline in casual dining following the COVID-19 pandemic and the ever-present threat of rising inflation.

At 36, Damola Adamolekun made history last September as the youngest CEO in Red Lobster’s nearly 60-year history. The Nigerian-born Ivy League graduate is now focused on shaping the restaurant chain’s future, striving to reignite diners’ enthusiasm for eating out.

“A lot of people, their early experiences with seafood were at a Red Lobster,” Adamolekun told CBS News.

“What people, especially young people, need in addition to great food is a great atmosphere,” Adamolekun explained. “The place you can come in feels good; it looks nice. So if you don’t live up to what they expect, they won’t come back. They’ll go somewhere else, or they’ll eat at home.”

Adamolekun took on the role during a rough patch for Red Lobster. The company had already closed several dozen locations and filed for bankruptcy–alongside closings at TGI Friday’s, Buca di Beppo, and several other restaurant brands in 2024. With 544 locations remaining in the U.S. and Canada, Adamolekun is now tackling the chain’s biggest challenges in an effort to revitalize one of the nation’s oldest casual dining brands.

“You know, crisis, it forces you to move quickly, make decisions, and you can’t stew too long on like, am I ready or am I not,” Adamolekun said. “…I think there’s always a way to make something work. You just need to find the solution.”

Changes include eliminating Red Lobster’s iconic Endless Shrimp deal, streamlining the menu, and new offerings.

“It’s an expensive product,” Adamolekun said of the Endless Shrimp deal. “The way they were doing it was unmanaged.”

With inflation making many Americans hesitant to dine out and restaurants facing rising food costs, Adamolekun acknowledges that some of these expenses are being passed on to Red Lobster’s customers.

“Your entire cost structure is gonna move up somewhat, and prices in the country will go up somewhat, but I don’t want to be higher than overall inflation,” Adamolekun said.

Adamolekun’s changes are making an impact. Red Lobster is no longer in bankruptcy. A recent industry survey from the National Restaurant Association revealed that about eight in 10 restaurant operators expect sales in 2025 to match or exceed last year’s figures.