Red Lobster’s 35-year-old CEO Damola Adamolekun sits down with NBC’s Savannah Sellers to discuss the changes he’s implementing to revive the business with a revamped menu. Adamolekun also reveals the fate of the trademark endless shrimp deal and shares the return of a fan favorite dish.
Red Lobster’s new CEO is attempting to revive the seafood chain, which has been a staple of the casual dining industry for more than half a century, with millennial mojo. “We want to make the restaurants more fun,” Damola Adamolekun, 35, said. “We want to make this more energetic.” Red Lobster is turning to millennial leadership to bring in younger guests, which the chain needs after closing more than 100 of its 640 restaurants earlier this year.
“Some brands like Olive Garden have driven increases in visitation trends through value-oriented promotions like the Never-Ending Pasta Bowl and other menu innovations,” Hottovy said. Red Lobster infamously tried the promotion route in summer 2023, when it made its trademark $20 endless shrimp meal deal permanent in a bid to lure inflation-weary customers. But the deal was costly for Red Lobster — the company lost $11 million from that promotion alone, according to court documents.
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