Q&A with Damola Adamolekun, CEO of Red Lobster

Damola Adamolekun is the youngest CEO of the global restaurant chain Red Lobster and previous CEO of P.F. Chang's. Damola began his impressive career in investment banking in New York from 2011 to 2013, and describes the invaluable lessons he learned at the firm and how his time at GS laid the foundation for him as a leader, especially as he attempts to restore the iconic restaurant chain's position amidst a changing landscape.

1. How did you start your career at Goldman Sachs and what did you learn during your time here that helped you in the next phase(s) of your career?
I started my career at Goldman Sachs in investment banking, where I worked on high-profile transactions and gained a front-row seat to the intricacies of global markets. The experience taught me three fundamental lessons: the value of disciplined preparation, the importance of clear communication, and the necessity of composure under pressure. Working alongside some of the brightest minds, I developed a strong foundation in analytical thinking and strategic problem-solving. These skills have been invaluable as I transitioned into leadership roles, where decisiveness and data-driven decision-making are critical. GS also taught me the power of collaboration, which continues to shape my leadership style.

2. In 2019 you became a first-time CEO for P.F. Chang’s, and under your leadership, the restaurant chain began generating revenues of approximately $1 billion a year. What was the biggest lesson you learned leading a nationally recognized brand? What was most unexpected?
The biggest lesson I learned was the importance of adaptability. Leading a nationally recognized brand like P.F. Chang’s required balancing tradition with transformation—modernizing operations and embracing technology while staying true to the brand’s culinary roots. This balance was essential to driving growth without losing what made the brand special.

What was most unexpected was how much emotion and nostalgia consumers attach to brands they grew up with. I underestimated the impact of these emotional connections, which became a guiding principle in our decision-making, from menu changes to ambiance redesigns.

3. Now, as the CEO of Red Lobster, what learnings will you leverage? What excites you the most about this new role?
At Red Lobster, I’m leveraging lessons in operational discipline, customer-centric innovation, and team collaboration. The challenges of revitalizing a legacy brand are familiar, but what excites me is the opportunity to celebrate and elevate Red Lobster’s unique place in American dining. It’s a brand with deep emotional connections to its customers, much like P.F. Chang’s, and I’m focused on modernizing its operations and enhancing its appeal for both loyal patrons and new audiences. What excites me most is the chance to guide Red Lobster through a transformative period, ensuring its sustainability and relevance for future generations.

4. As you look to the future, what are your ambitions for Red Lobster? For yourself?
For Red Lobster, my ambition is clear: to restore its position as an iconic leader in casual dining by enhancing the quality of its food, service, and guest experience. This involves simplifying operations, modernizing our restaurants, and fostering a culture of excellence that rewards innovation and teamwork. I want to ensure Red Lobster not only survives but thrives in a competitive landscape.

For myself, I aim to continue growing as a leader who drives meaningful impact—not only within the organizations I serve but also in the communities we touch. I’m passionate about mentoring the next generation of leaders and sharing the lessons I’ve learned about perseverance, adaptability, and the power of strategic vision.

5. Have you leveraged your GS network since leaving the firm? If so, how?
Absolutely. The Goldman Sachs network has been an invaluable resource throughout my career. Whether it’s reconnecting with former colleagues for strategic insights, partnering with GS alumni on new ventures, or simply exchanging ideas, the relationships I built at the firm have continued to open doors and foster collaboration. GS's culture of excellence and trust extends beyond its walls, and I’m grateful for the friendships and professional connections that have endured over the years.