Consumer

Red Lobster Lenders Tap Ex-P.F. Chang’s Head Adamolekun as CEO

Damola Adamolekun has been named Red Lobster’s new CEO
Adamolekun will assume role once chain leaves Chapter 11

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By Jonathan Randles

August 26, 2024 at 3:34 PM UTC

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Fortress Investment Group has appointed the former chief executive officer of P.F. Chang’s to lead Red Lobster when it is acquired by lenders out of Chapter 11.

Damola Adamolekun will become Red Lobster CEO after after a Florida bankruptcy judge approves the restaurant’s proposed plan for exiting Chapter 11 under new ownership, Fortress said in a statement. The bankruptcy court is scheduled to consider approving the plan on Sept. 5, according to court documents.