Red Lobster may have fallen into some financial trouble in 2024 but it made a major investment in the aftermath that is finally paying off. When the seafood giant named Damola Adamolekun as its CEO last August, it signaled a new chapter for the chain that gave the world cheddar bay biscuits and a thousand date nights. Now the brand is thriving again and it has Adamolekun to thank.
Young, brilliant, and unapologetically Black, Adamolekun is bringing a fresh strategy and serious business chops to one of the most iconic American brands. Here’s what you need to know about him:
1. He’s the definition of Young, Gifted, and Black
At just 36 years old, Damola Adamolekun is running the show. A first-generation Nigerian-American, Ivy League grad, and former Wall Street investor, he’s breaking barriers in an industry where Black leadership is still the exception, not the rule. His journey is proof that Black excellence is not just thriving — it’s redefining corporate leadership.
He also got his start in restaurants earlier than you might think — waiting tables in high school. But it wasn’t just food service where he made an early impression. As he recently shared on The Breakfast Club, he also dominated the debate circuit and discovered a love for investing while still a teenager.
“I won the state championship for debate, then I won a speech contest, which paid me $10,000. It was a scholarship. And it was the most money I’d ever had at that point, I’m like, ‘Okay, we made it.’ And I decided I wanted to invest that money.”
That early interest sparked something bigger. “I read anything about [Warren] Buffet,” he said. “You can buy stocks with $100, you can buy stocks at $10,000. You can buy stocks in millions of dollars… So I learned that and sort of trained myself and asked a bunch of questions of people who I knew that were doing that sort of thing.”
He eventually made it to Brown University, played football there, joined the investment club, and landed a coveted Goldman Sachs internship — all by outworking expectations. “I didn’t come from that world, but I studied… you need to recognize that who you are now isn’t who you’re going to be ultimately, and you need to take steps towards your goals.”
2. He was the first Black CEO of P.F. Chang’s — and turned it into a billion-dollar brand
In 2020, Adamolekun became P.F. Chang’s first Black CEO. During his tenure, Adamolekun inspired the company to launch P.F. Chang’s To Go, a concept that led to the growth of the brand’s delivery business. During the COVID-19 pandemic, Adamolekun returned P.F. Chang’s to profitability with a 31.7% increase in sales by 2021 and annual revenues of $1 billion. He was later tapped to lead Red Lobster in August 2024.
3. His strategy? Get the team fired up and laser-focused
Adamolekun understands that no turnaround happens solo. Speaking with CBS News, he broke down his approach to rebuilding trust and purpose from within:
“The most important thing I did was probably at the very beginning, which was getting the team galvanized around a mission and a strategy and getting them focused on turning the page from what had been a very difficult, you know, past few months, obviously. So, you know, you can’t make a comeback like this without the team believing in a future.”
He added that public confidence needed a boost, too:
“A lot of people were worried. They were worried that the company was dead, right? So we had to show a path forward. It involved a lot of investment from owners of the company, a clear strategy, investing in the guests investing in the team. And then when you have people fired up to make a change, it’s amazing what can be done.”
4. He’s bringing smart business — not just buzz
Red Lobster’s infamous “Endless Shrimp” promotion may have gone viral way back when, but it also racked up serious losses. Adamolekun is focused on long-term sustainability, not gimmicks. He’s already double downed on customer experience, improved operations, and made food affordable again — without sacrificing flavor or flair.
5. He’s a signal of what’s possible for Black leadership in business
Adamolekun’s rise isn’t just about seafood — it’s about shifting the narrative. As a young Black executive in a high-profile CEO role, he’s proof that new voices are changing the game. For young professionals dreaming big, his success story is a case study in what’s possible when preparation meets purpose.
As he put it: “It’s not faking it. It’s teaching. It’s becoming the thing you need to be… preparing. You need to recognize that who you are now isn’t who you’re going to be ultimately, and you need to take steps towards your goals.”
Red Lobster might be known for its biscuits, but under Damola Adamolekun, the real recipe is vision, leadership, and unapologetic Black brilliance.
