Red Lobster was basically a sinking ship. You probably heard about the "Endless Shrimp" disaster that supposedly blew an $11 million hole in their pocket and sent them spiraling into Chapter 11. It’s the kind of corporate cautionary tale that gets meme’d into oblivion. But honestly, the shrimp was just the tip of the iceberg. Decades of weird real estate deals, revolving-door leadership, and a lack of actual investment in the kitchens had the brand on life support.
Enter Damola Adamolekun.
He isn't just another suit. At 35, he’s the youngest CEO in the company’s history and the guy tasked by Fortress Investment Group to pull the lobster out of the boiling pot. He officially took the reins in September 2024, right as the company emerged from bankruptcy with about 545 restaurants left across the U.S. and Canada. If you’re wondering why this matters to anyone other than Wall Street types, it’s because the strategy he’s using is a total 180 from the "discount until we die" model that nearly killed the place.
Red Lobster New CEO: What Most People Get Wrong
A lot of folks think the Red Lobster new CEO was hired just to cut costs and shutter doors. That’s not it. Adamolekun is actually spending money—over $60 million of it. The "new" Red Lobster is leaning into what they call "Red Carpet Hospitality."
It sounds sorta corporate, right? But the actual execution is surprisingly human. He’s pushing for staff to greet guests within 10 feet and engage within 4 feet. He’s even been spotted sitting at the bars of his own restaurants, unannounced, just to see if the HVAC is actually working and if the carpet looks like it belongs in 1994.
He’s a first-generation Nigerian-American who grew up eating at the Red Lobster in Springfield, Illinois. He knows the nostalgia factor is the only thing keeping the lights on, but nostalgia doesn't fix a broken supply chain or a messy menu.
The Death of the $20 Endless Shrimp (As We Knew It)
One of the first things Adamolekun did was address the "shrimp in the room." Making Ultimate Endless Shrimp a permanent $20 fixture was, in his words, "chaos." It caused wait times to skyrocket and stressed out the staff.
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- The Problem: People weren't just eating; they were camping. One diner famously posted about eating 108 pieces of shrimp over four hours.
- The Fix: He didn't ban the idea forever, but he killed the version that lost money.
- The New Vibe: Focus on high-quality, crave-able items like the new "Seafood Boils" and Lobster Fettuccine.
The strategy is simple: make the food good enough that people want to pay for it, rather than just "winning" against the buffet.
Why the P.F. Chang’s Playbook Matters Here
Before this, Adamolekun was the CEO of P.F. Chang’s. He took over there right as COVID-19 hit—talk about bad timing. But he managed to pivot them toward a massive takeout business and grew sales by 30%.
At Red Lobster, he’s doing something similar with tech. They recently rejoined Olo, a tech provider they’d ditched years ago to try and build their own (expensive) system. Now, they’re using AI sentiment tools to read guest feedback in real time. If people in a specific region are complaining that the hush puppies are dry, the kitchen knows almost instantly.
He’s also bringing back the classics. Hush puppies are back. Popcorn shrimp is back. It’s about being a "casual dining" spot again, not a discount warehouse.
Making Red Lobster "Vibrant" Again
If you've walked into a Red Lobster lately, you might have noticed it feels a bit... tired. Adamolekun has been very vocal about fixing the physical infrastructure. We're talking $500,000 earmarked for per-location investments in things like:
- Better lighting and music.
- Updated table settings.
- Functional HVAC systems (because nobody wants to eat hot crab in a hot room).
- New carpeting that doesn't feel like a relic.
He’s also been incredibly smart about branding. He appeared on The Breakfast Club to talk to younger, more diverse audiences, leaning into the brand’s history of being one of the few places that was welcoming to Black diners back in the 60s. It’s a move that connects the brand’s past to a future that feels more culturally relevant.
The Verdict on the Turnaround
Is it working? The data says maybe. By late 2025, weekly sales reportedly jumped 80% after the launch of the new Crabfest and those TikTok-famous seafood boils. Online ratings are finally trending above the industry average for the first time in years.
He’s navigating some tricky waters, though. To dodge tariffs and keep costs down, he’s shifting some shrimp sourcing from China to India, while keeping the lobster and crab coming from the US and Canada. It’s a delicate balance of trying to keep the price "affordable" without becoming "cheap."
The goal is to be profitable by the end of 2026. It’s an ambitious timeline for a company that was $1 billion in debt just a couple of years ago.
Actionable Insights for the "New" Red Lobster Era
If you're a fan of the brand or just curious about the comeback, here is how to navigate the changes:
- Download the App: They are putting a massive amount of effort into their loyalty program and first-party catering through Olo. You'll likely see better deals there than on third-party delivery sites.
- Try the Seafood Boils: This is the flagship of the new menu. It’s Adamolekun’s big bet on "experiential" dining—less about the plate, more about the "pour."
- Look for the "Red Carpet" Service: If your server isn't greeting you quickly or the vibe feels off, use the digital feedback tools. The new management is actually reading those comments to make adjustments on the fly.
- Skip the "Hack" Mentality: The days of trying to "bankrupt" the place with endless shrimp are over. The focus now is on consistent quality and "Shrimp Sensation" three-course meals that offer value without the "chaos."
Red Lobster isn't just trying to survive anymore; they're trying to matter. With a young CEO who actually likes the food and a $60 million war chest, the "Greatest Comeback" might actually be underway.