Red Lobster's New CEO Addresses Endless Shrimp Promotion Fallout

CEO Damola Adamolekun plans strategic changes after the costly shrimp deal led to financial turmoil and restaurant closures.

The $20 endless shrimp promotion resulted in an $11 million loss for Red Lobster, leading to bankruptcy and the closure of over 120 locations.
CEO Damola Adamolekun, appointed in August, aims to revitalize the chain without further closures, focusing on operational improvements and menu adjustments.
Adamolekun acknowledges the chaos caused by the promotion, which strained kitchen and service staff, and plans to manage future promotions more effectively.
The new leadership intends to invest in infrastructure and technology to enhance customer experience across the chain's 545 locations.
Despite recent challenges, Adamolekun remains optimistic about Red Lobster's future, emphasizing the brand's cultural significance and potential for growth.