Before joining Red Lobster, Adamolekun served as CEO of P.F. Chang's and was a partner at Paulson & Co., where he played a key role in acquiring the Asian American restaurant chain in 2019.

The chain’s revenues were down about $1.25 billion in 2024, a decrease of $54.5 million from 2023, according to a February earnings release. Red Robin posted a $77.5 million loss last year ...