Damola Adamolekun joins Geoff Bennett for our 'Settle In' podcast

Lisa Desjardins:

In the latest episode of our new video podcast, "Settle In," Geoff Bennett sat down with the CEO of Red Lobster, Damola Adamolekun.

They discuss how the young executive is trying to build on the legacy of Red Lobster while turning the seafood chain around after bankruptcy. Here's an excerpt of their conversation.

Geoff Bennett:

At 36 years old, you are one of the youngest, if not the youngest CEO in the industry, one with only few Black leaders in that space. How do you navigate the expectations that come with being a visible first or only?

Damola Adamolekun, CEO, Red Lobster:

It's tricky, especially because the jobs that I have taken are so hard, right? I took Red Lobster out of bankruptcy. It's not a -- it'd be simpler if it was a business that was running well already and it was about managing and growing.

This is about like a turnaround. So it's very high stakes and it's very high risk in terms of the outcome of the business. People care about what happens to Red Lobster a lot more than a lot of other companies, which can be a positive. And I try to use that as a positive.

But then, also, it makes it higher profile for me.

Hi. I'm Damola, CEO of Red Lobster.

That's just something that, in my mind, it's not about me. It's about the business. It's about the team members and the restaurants. But then I get outside of my office and a lot of people want to talk about me, which is OK. I don't mind it, but it doesn't change what I need to do or what we need to do as a business.

I answer questions honestly and I get back to thinking about the people who work here.

Geoff Bennett:

Yes.

To your point about Red Lobster being such a well-known brand, it is very much a part of Americana. I think everybody of a certain age has a Red Lobster story. I would go to Red Lobster with my family after church or on big milestone occasions.

How do you now as CEO walk this line between leveraging nostalgia and updating the brand for a younger audience or for a different audience to make it relevant in a new way?

Damola Adamolekun:

Yes, it's -- you need to do both and it needs to be balanced, right? Because you do have a core group of people that have loved this brand for a long time.

And I like to start with the core. And then you expand the tent, so that becomes kind of where could we be better to bring in new consumers and younger diners and new guests that haven't tried us before, right? And so an example of that is, we fixed a lot of things that were already on the menu when we started, right? There was an issue with the tartar sauce.

There was questions around certain products that we needed to improve. And we did that, while maintaining the things that people loved the most, like the Cheddar Bay Biscuits, et cetera.

Geoff Bennett:

When you were announced as the CEO, I saw on social media, all over social media, people were going to Red Lobster in many ways to support you because they were invested in your success.

Woman:

Support a Black-owned CEO. So come with us to try the new Red Lobster Seafood Boil.

Geoff Bennett:

Did you see any of that? And I wonder, how did that make you feel?

Damola Adamolekun:

Yes, we saw some of that. And it's really an inspiring thing. It's motivating.

I think it is partially because of me, but I think these are people that have loved Red Lobster a lot of times in the past or used to frequent Red Lobster and more or less gave up on it, right? And I think what I have represented to these people is hope that it can come back and be as good as they remember, right?

So it's something I appreciate and I don't take for granted, and I think speaks to the strength of the brand as much as anything, which, is there a chance it could be what I -- what they grew up with or what they recall from the last time they came?