Red Lobster quickly exits bankruptcy after 3 months, led by CEO Damola Adamolekun. The company expects positive net income in fiscal 2026 and a 43% growth in adjusted Ebitda from 2025 to 2027. Adamolekun, previously CEO of P.F. Chang’s, aims to make Red Lobster the greatest comeback in the restaurant industry history.

Adamolekun, recognized in Fortune’s 100 Most Powerful People in Business list, is known for leading P.F. Chang’s to profitability during the COVID pandemic. He emphasizes shattering inefficiencies at Red Lobster and vows never to bring back the endless-shrimp promotion that led to bankruptcy.

Under Adamolekun’s leadership, Red Lobster plans a $60 million initiative to revitalize the chain. The focus is on improving and renovating existing locations, making dining more affordable for customers, and enhancing the overall dining experience with new lighting, music, and decor.

Similar to other chains, Red Lobster streamlines its menu to increase efficiencies. The company reintroduced fan favorites, ran Lobsterfest promotions, and introduced a happy hour menu. Adamolekun isn’t afraid to set ambitious goals and go after difficult challenges in his comeback plan for Red Lobster.

Read more at Yahoo Finance: Red Lobster’s 36-year-old CEO got the company out of bankruptcy. Now he’s plotting the ‘greatest comeback in the history of the restaurant industry’