Keep pulling the thread on Damola Adamolekun.
Damola Adamolekun stepped into the CEO role at P.F. Chang's out of necessity during the COVID-19 pandemic, as the business was failing and its restaurants were shut down.
At the time of its leadership change, Red Lobster was in bankruptcy and its sales had tumbled.
Damola Adamolekun's primary motivation for taking the CEO role at Red Lobster was to take on a more difficult challenge than his previous role at P.F. Chang's.
When Damola Adamolekun took over Red Lobster, he assessed the company as being in a worse situation than P.F. Chang's had been.
Red Lobster was facing significant lease issues stemming from a prior sale-leaseback transaction when its new leadership took over.
Despite its financial distress, Damola Adamolekun saw an opportunity in Red Lobster due to its iconic brand, history, and loyal customer base.
Damola Adamolekun believes Red Lobster's previous owners had not placed a strong emphasis on improving the guest experience, creating low-hanging fruit for improvement.