Crimson Lobster might have fallen into some monetary bother in 2024 however it made a serious funding within the aftermath that’s lastly paying off. When the seafood big named Damola Adamolekun as its CEO final August, it signaled a brand new chapter for the chain that gave the world cheddar bay biscuits and a thousand date nights. Now the model is flourishing once more and it has Adamolekun to thank.
Younger, sensible, and unapologetically Black, Adamolekun is bringing a contemporary technique and critical enterprise chops to some of the iconic American manufacturers. Right here’s what you must find out about him:
1. He’s the definition of Younger, Gifted, and BlackAt simply 36 years previous, Damola Adamolekun is working the present. A primary-generation Nigerian-American, Ivy League grad, and former Wall Road investor, he’s breaking boundaries in an trade the place Black management remains to be the exception, not the rule. His journey is proof that Black excellence isn’t just thriving — it’s redefining company management.
He additionally obtained his begin in eating places sooner than you may assume — ready tables in highschool. However it wasn’t simply meals service the place he made an early impression. As he lately shared on The Breakfast Membership, he additionally dominated the talk circuit and found a love for investing whereas nonetheless a youngster.
“I gained the state championship for debate, then I gained a speech contest, which paid me $10,000. It was a scholarship. And it was essentially the most cash I’d ever had at that time, I’m like, ‘Okay, we made it.’ And I made a decision I wished to speculate that cash.”
That early curiosity sparked one thing larger. “I learn something about [Warren] Buffet,” he mentioned. “You should purchase shares with $100, you should purchase shares at $10,000. You should purchase shares in hundreds of thousands of {dollars}… So I discovered that and kind of educated myself and requested a bunch of questions of people that I knew that had been doing that kind of factor.”
He finally made it to Brown College, performed soccer there, joined the funding membership, and landed a coveted Goldman Sachs internship — all by outworking expectations. “I didn’t come from that world, however I studied… you must acknowledge that who you are actually isn’t who you’re going to be finally, and you must take steps in direction of your targets.”
2. He was the primary Black CEO of P.F. Chang’s — and turned it right into a billion-dollar brandIn 2020, Adamolekun grew to become P.F. Chang’s first Black CEO. Throughout his tenure, Adamolekun impressed the corporate to launch P.F. Chang’s To Go, an idea that led to the expansion of the model’s supply enterprise. Through the COVID-19 pandemic, Adamolekun returned P.F. Chang’s to profitability with a 31.7% enhance in gross sales by 2021 and annual revenues of $1 billion. He was later tapped to steer Crimson Lobster in August 2024.
3. His technique? Get the group fired up and laser-focusedAdamolekun understands that no turnaround occurs solo. Talking with CBS Information, he broke down his strategy to rebuilding belief and goal from inside:
“An important factor I did was most likely on the very starting, which was getting the group galvanized round a mission and a technique and getting them targeted on turning the web page from what had been a really troublesome, you recognize, previous few months, clearly. So, you recognize, you’ll be able to’t make a comeback like this with out the group believing in a future.”
He added that public confidence wanted a lift, too:
“Lots of people had been frightened. They had been frightened that the corporate was lifeless, proper? So we needed to present a path ahead. It concerned a variety of funding from house owners of the corporate, a transparent technique, investing within the company investing within the group. After which when you might have individuals fired as much as make a change, it’s superb what will be carried out.”
4. He’s bringing good enterprise — not simply buzzRed Lobster’s notorious “Limitless Shrimp” promotion might have gone viral means again when, however it additionally racked up critical losses. Adamolekun is targeted on long-term sustainability, not gimmicks. He’s already double downed on buyer expertise, improved operations, and made meals inexpensive once more — with out sacrificing taste or aptitude.
5. He’s a sign of what’s potential for Black management in businessAdamolekun’s rise isn’t nearly seafood — it’s about shifting the narrative. As a younger Black government in a high-profile CEO position, he’s proof that new voices are altering the sport. For younger professionals dreaming massive, his success story is a case research in what’s potential when preparation meets goal.
As he put it: “It’s not faking it. It’s instructing. It’s turning into the factor you must be… getting ready. You’ll want to acknowledge that who you are actually isn’t who you’re going to be finally, and you must take steps in direction of your targets.”
Crimson Lobster is perhaps recognized for its biscuits, however below Damola Adamolekun, the true recipe is imaginative and prescient, management, and unapologetic Black brilliance.
