Red Lobster names new CEO as it navigates restaurant closures and bankruptcy recovery

Red Lobster has appointed 35-year-old Damola Adamolekun as CEO amid significant challenges, including over 100 restaurant closures and a recent bankruptcy. Adamolekun aims to improve service and dining experiences without major changes, focusing on incremental improvements. The chain emerged from bankruptcy last month under new ownership, with a commitment of $60 million for revitalization. Adamolekun plans to enhance table service and simplify the menu while retaining popular items for older customers. Previously, Red Lobster struggled with operational chaos, particularly from a $20 endless shrimp promotion that backfired. Adamolekun intends to refresh the brand while balancing the needs of traditional customers and attracting younger diners.