Diasporan Star | Damola Adamolekun : Trailblazer in the Restaurant Industry

Damola Adamolekun’s journey from Nigeria to the top of the American restaurant industry is a story of ambition, strategy, and resilience. As a Nigerian-American business executive, he has carved a niche for himself in corporate leadership, becoming the youngest CEO of Red Lobster and the first Black CEO of P. F. Chang’s. His rise through the ranks of Wall Street and the restaurant industry reflects the growing influence of Nigerians in the diaspora on the global business landscape.

Born in Nigeria in February 1989 to Yoruba parents a neurologist father and a pharmacist mother Adamolekun spent his early years in Zimbabwe and the Netherlands before moving to the United States at the age of nine. His family settled in Springfield, Illinois, and later Columbia, Maryland, where he attended high school. Even as a teenager, he showed an interest in finance, opening his first stock portfolio at just 16.

Adamolekun earned a degree in Economics and Political Science from Brown University, where he was President of the Brown Investment Group and a member of the university’s Ivy League champion football team. He later obtained an MBA from Harvard Business School, serving as a Portfolio Manager for the HBS Investment Club.

His career began in investment banking at Goldman Sachs before transitioning to private equity roles at TPG Inc. and Paulson & Co. In 2019, he played a key role in the acquisition of P. F. Chang’s and joined the board as Chief Strategy Officer. A year later, he became the CEO, overseeing the launch of P. F. Chang’s To Go, an initiative that modernized the brand’s delivery business and increased sales by over 30%.

In August 2024, Adamolekun was appointed CEO of Red Lobster, becoming the youngest person to lead the iconic seafood chain. With the company struggling financially and undergoing bankruptcy proceedings, he faces one of his biggest leadership challenges yet. His approach focuses on gradual, strategic changes rather than a complete overhaul, as he works to restore Red Lobster’s position in the casual dining sector.

Adamolekun’s success story is a powerful reminder of how Nigerians in the diaspora continue to shape industries worldwide. His journey from an ambitious teenager managing his first investments to a CEO overseeing billion-dollar restaurant chains is an inspiration to young professionals globally. Through vision, strategic thinking, and resilience, he exemplifies the limitless potential of African talent on the world stage.