Red Lobster’s 36-year-old CEO got the company out of bankruptcy. Now he’s plotting the ‘greatest comeback in the history of the restaurant industry’

Core Insights - Red Lobster has successfully emerged from bankruptcy within three months, overcoming significant challenges including an $11 million promotional failure [1][2] - Under the leadership of CEO Damola Adamolekun, the company anticipates positive net income in fiscal 2026 and a 43% growth in adjusted EBITDA from fiscal 2025 to 2027 [2] Company Strategy - Adamolekun believes Red Lobster is on track for a remarkable recovery in the restaurant industry, despite the inherent risks associated with taking over a bankrupt company [3] - The CEO's previous experience at P.F. Chang's, where he led the company back to profitability during the COVID pandemic, informs his strategic approach at Red Lobster [3][4] - Adamolekun is focused on eliminating inefficiencies, notably by discontinuing the endless shrimp promotion that contributed to the company's financial troubles [5][6] Financial Plans - The company is implementing a $60 million plan aimed at revitalizing the brand and enhancing the dining experience through improved ambiance and decor [7]