June 10, 2026
Damola Adamolekun says artificial intelligence will play a central role in Red Lobster’s turnaround strategy
As Red Lobster continues its recovery from bankruptcy, CEO Damola Adamolekun is betting that artificial intelligence will help transform the iconic seafood chain into a more efficient, innovative, and competitive business.
During a live fireside chat on The Black Money Tree Podcast, Adamolekun outlined his vision for making Red Lobster “the most AI-forward restaurant company that exists,” signaling that emerging technology will be a key component of the brand’s long-term turnaround strategy.
“AI is important. I know a lot of people are scared of it or don’t want to deal with it, but you have to. It’s changing the game in a tremendous way … I’m trying to be the most AI-forward restaurant company that exists,” he told host Jerome D. Love.
The conversation comes as Red Lobster continues rebuilding after filing for Chapter 11 bankruptcy protection in 2024. Adamolekun, who previously served as CEO of P.F. Chang’s and helped drive the company to more than $1 billion in annual revenue, was tapped to lead the seafood giant through one of the most challenging periods in its history.
Speaking on the podcast, the 37-year-old investment banker stressed that business leaders can no longer afford to ignore artificial intelligence. He also shared that Red Lobster Chief Operating Officer Larry Konecny envisions AI-generated restaurant performance reports that could provide critical metrics before visiting a location, reducing manual work, and improving decision-making.
“My COO was like, ‘What if when I went to a restaurant, I could have AI pull all the relevant metrics of that restaurant, laid it out for me in a deck, and when I walk in, I’ve got everything I need right there versus having my team do it,’” he said. “There’s a lot of ‘everybody’s got ideas’ if you give them the empowerment to come up with them. So, I’m letting each department come up with their own ideas, and I’m just encouraging it and letting them do it,” he continued.
“AI is intelligent enough to do that for us and learn from the past and learn going forward and be more accurate. So, we’ll roll that out and help people be better at their jobs. So, I’m finding opportunities to do it from a company level that I’m letting the team find opportunities to make themselves better,” he added.
Adamolekun said he is encouraging departments across the organization to identify practical ways the technology can improve operations. Human resources teams, for example, could use AI to assist with evaluations, calculations, presentations, and training materials.
Beyond administrative functions, Adamolekun revealed that Red Lobster plans to deploy AI tools for sales forecasting, food-order planning, and employee scheduling. He believes the technology can improve accuracy by learning from historical data and adapting over time.
“I do think we’ll be probably the best AI company,” Adamolekun said. “Because I don’t know that anybody’s pushing it as hard as I am.”
Adamolekun’s push toward innovation comes as Red Lobster continues to streamline its footprint following financial troubles. Earlier this month, the company announced plans to close its flagship Times Square restaurant after 23 years, citing prolonged construction that reduced visibility and foot traffic, as well as the building’s planned conversion into residential housing, Business Insider reports. The closure follows the recent shutdown of Red Lobster in Tallahassee, Florida, which opened in 1970 and closed in May, reports NBC New York.
According to Fortune, Red Lobster currently operates around 550 restaurants, down from roughly 700 locations a few years ago. The downsizing may not be over. In February, Adamolekun told The Wall Street Journal that the company plans to continue closing underperforming locations as part of its broader strategy to strengthen profitable restaurants, modernize operations, and position the iconic seafood chain for long-term growth.
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