Red Lobster’s new CEO explains what went wrong with endless shrimp
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- Опубліковано 9 лют 2025
- Embattled Red Lobster has a new CEO, and he’s just 35 years old. CNN reporter Nathaniel Meyersohn sat down with Damola Adamolekun over some shrimp and lobster tail to chat the future of the seafood company and the young CEO’s approach to work. #cnn #news #redlobster
Shot by Zach Wasser, Benjamin Evans, FJ Feng
Editor/Producer: John General
Senior Producer: Alexandra King
Reporter: Nathaniel Meyersohn
It's insane that i know this guy from high school and have partied with him in the past (I grew up in Springfield). Haven't seen him since college and now I'm seeing him as a millionaire ceo of 2 major restaurant chains on CNN. Nothing but respect for this man!
I hope he brings pet casserole to RL...how delicious would that be!...yum!
@@deesmith8576cringe.
@@deesmith8576you see a successful, well spoken black man and immediately assume DEI… your racism is showing
@@deesmith8576 PROFOUNDLY untrue. Ivy League graduate from Brown with an MBA from Harvard, president of Brown's Investment Club, cut his teeth working Wall Street at Goldman , TPG, and Paulson, and after all of that, took on executive leadership of P.F. Chang's and helped generate the 1 BILLION they needed to get out of debt and begin once again making a profit. Even if you refuse to believe that he earned his academic success, you cannot deny that spearheading a failing organization into net positive through the pandemic (when businesses were failing left and right) merits tremendous respect, and is evidence of his aptitude and ability for leadership. Red Lobster is literally bringing him in because he is a chain restaurant "rain man" when it comes to organizational overhaul.
@@deesmith8576 how are you so sure he is DEI? the mere fact that you are so "sure" he is DEI exposes the deep prejudice you have for people of his skin color
So relieving to hear a CEO talk about how a product not only is expensive, but also strains the staff too and how burning out your employees can end up being a more costly decision than the endless shrimp itself
Should have just set a time limit just like any other all you can eat places
Nah it's not endless at that point and causes confusion, it's better to just end it and sell shrimp normally at decent prices @@TheMissingDislikeButton
@@AdrianGK47 We have all you can places in Japan, but they have a time limit. If you pass that time limit there is a separate charge. Usually for 2 hours at a cheap place it's like $20 per person. More expensive spots with fresh higher quality food can exceed $100 per person. They could do the same at Red Lobster, but it's all all about filling ceos and shareholders pockets, so they will raise prices, but employee payouts will stay the same.
@@maciv33 Difference in culture, americans would throw fits
Don't let these "charming" seeming CEOs fool you. At the end of the day their number one goal is higher profits. He said it himself that the first thing he thought was it being an expensive product to be giving out endlessly. While it is true that stressing the employees out is a problem, it was the last of the problems in order of importance regarding that. Who knows though I could be wrong, but American greed always comes over everything in this countries large companies.
Man got 2 franchises under his belt before 40
Real
Thanks to DEI hiring
@@EricDraven-qd9puCry about it cry baby 😝.
@@EricDraven-qd9pucould it not just be intelligence, personability, and hard work? Could that not be possible?
@@EricDraven-qd9pu have you even seen what he did for shareholders at PF Chang's or are you so focused on his race that you ignore his business acumen?
I worked for Red Lobster when I was younger for about 7 years in total. Out of ALL the jobs I have worked in my life, NOTHING was more stressful than Endless Shrimp. There is NO work stress I have ever felt that has come close, and I've worked in the malls on Black Friday, I've worked at Apple on product release date, and I currently manage a department of about 25-30 individuals. Not going to lie though, Red Lobster definitely helped prepare me to get me to where I am today in the workforce.
This guy is young, but he could be onto something.
I worked there is college. I no call no showed and never went back one cold November during endless shrimp. My mental health was obliterated.
I can only imagine the demanding (blank) holes that complain if you "take too long" to get their next round of shrimp and never tip properly no matter what.
Wow thanks for sharing
Circuit city black Friday was a fun experience....I quit the next week..
It's great to hear that your worst nightmare is serving endless shrimp to a bunch of fat broke democrats. Mostly because that's MY worst nightmare as well.
35 years old? That's pretty impressive
@Jeff-m9o2e Did you even watch the video? He was just appointed CEO, he has a fantastic track record.
@Jeff-m9o2e Damola Adamolekun is one of the most successful young executives on the block. He initially led PF Chang, achieivng over 1 billion dollars in revenue for the chain. He was a fantastic investment banker who formerly worked at goldman sachs. Red Lobster went bankrupt months Damola was appointed, he was appointed to rescue the company out of bankrupty.
Are you just down right illiterate or plainly ignorant?
@Jeff-m9o2e Tell us you have no idea what you're talking about with as few words as possible.
DEI makes anything possible
@Jeff-m9o2e you clearly can't read and didn't watch the video or are a troll.
His mind is sharp. I enjoy listening to him speak. I'm rooting for him. Seems to be a high character man. It's refreshing
I wonder who his parents are.
He seems like a good CEO. Too bad he wasn't in place earlier. Sounds like he understands actual restaurant operations which most CEOs do not. Best of luck to him.
Seems like a CEO who would get his hands dirty with the average worker
As he stated... He was a waiter... So he's worked his way up through all channels... So he knows the business from the bottom
@@JStorm13something uv done before
He a Harvard Business School graduate!!
@@JStorm13 yeah we get it like how did this well educated black get to be an CEO there I said it for you hater 😂
i'm 35 and i've been managing in the Food & Beverage industry for 15 years. this is the first CEO i've seen where i actually believe in his philosophy and hope the best for Red Lobster.
this guy gets it and seems to understand the struggles of everyday operations. that's what you need from a leader.
Hard to find
As long as the cheddar bay biscuits don't go away, I am happy :)
If they mess with that recipe I’ll be on their helmet
They already took the free side salad away with every entree after covid and raised prices. They will probably give you one biscuit soon
@@jonnyfendi2003That was before this new guy
What difference does it make if it were before this guy. They still dont offer the free side salad with entree anymore right now.
That's the one untouchable menu item.
Bro used his CNN interview as an advertisement for the food itself. Brilliant.
lol no shit
Who said it wasn't an advertisement?
@@Bromhausen Bruce is a moron lol don't mind him...
Red Lobster was puurchased by venture capitalists who forced it to switch to using their suppliers, and transferred the land each location is on to a real estate company they own, and then raised rent on it. It has nothing to do with shrimp, it's because the company is intended to die by its owners, and they will be the first to collect. The billions in debt they used to buy it, so they could make a few hundred mil bleeding it? It will just vanish when the company dies.
It's a tale as old as however-long-its-been-since-America-was-at-all-regulated (so the 80s)
How would he avoid that? You want him to use code while discussing his company?
I like the way the CEO speaks. He’s confident, has a genuine positivity about his energy and I get a calmness and reassurance from his tone. I wish him the best of luck. I love Red Lobster and really hope they can get it back to the great quality they had back in the day.
It's slowly dying
You can make your own seafood at home for half the price and its real ingredients too
@@MangoTroubles-007 You can make almost any restaurant's food at home for cheaper.
@@MangoTroubles-007god you’re boring
Tbh nothing he said stood out to me. What, a smaller menu is more practical and economical than a menu with 10 pages? Shocker. Fixing broken AC and renovations/rebrandings tend to attract more clients? Who would've thunked? More and more cheap people and Karens taking advantage of all-you-can-eat buffets? WHAT??? To me he just seems like an average guy who's good at interviews. Probably got where he is mostly due to his parents or some other family connections.
imagine putting dots between ceo
The difference between his 35 years and the 35 of the average 35er is the environment he grew up in, the parental guidance he had, the knowledge base he was given, and the mentorship he was blessed with. He took advantage of the world being at his fingertips and learned purpose at an early age.
Bro he was in the right place at the right time and knew the right people. There are too many variables in play that got him to that position. I know plenty of hard working smart dedicated head strong committed individuals that still to this day have yet to catch a big break. This 35 yr old man is no different than the hundreds of thousands out there. Hes just next up. Thats all.
@ you literally said the same thing I did, just different verbiage.
@@ckm8622 Not really, being at the right place at the right time has nothing to do with your upbringing. I could go to the gas station, buy a scratch off, and be lucky one to win the million dollar prize. Perfect example of being at right place, at the right that.
I wish this new young CEO all the best! You got this!
I don't
@clubpenguinbeer oh yeah, we know why 😂
@@ghostwalker89 so you know I'm not American and that red lobster's success or failure will never impact me?
@@clubpenguinbeer even if it doesn’t impact you .. why would you say I DONT .. and wish down on someones Goals?
Thats like me saying since i dont know you penguinbeer i hope you NEVER achieve your dreams in life & be forever miserable 😂 I mean …Since i don’t know you personally and your life has no impact on me😊
I hope You see the error in your logic
@@clubpenguinbeer yeah, so i know why you don't wish him the best 😂
35 years old and has been a CEO multiple times. I know he is brilliant.
gotta ask why he didnt last longer than 5 years at changs
@@LilT2o00better pay?
nah he seems like a snake
Fast food companies poach executives and swap executives all the time
@@LilT2o00because they got sold in 2019 and like all corporate doings, I’m sure he left when the new guys wanted to bring in their own guy.
CEO who used to be a server is an ASSET to a company. He understands the business!
Yea cause someone who just quit McDonald’s will definitely be a ceo. 😂😂😂
Mfs believe anything. Ofc his worked in tht field before… yall are oblivious
@@imnotagamer22 bro what lol
@@imnotagamer22 thats why 90% of the population is poor lol. it only takes a 3min EDITED video to convince the mass
@vinny2555332 ?
@@imnotagamer22u a goofy 😂😂
This Young CEO Speaks Volumes On Who He Is! He Speaks On His Character And His Respect For The Business And The Stressful Daily Restaurant Operations That Can Have On Employees And The Long Wait Times For Customers! This A Man That’s Observant, Detailed And Proactive In His Role!!!
One of the first times Ive seen an CEO who seems truly intelligent both mentally and emotionally
*shakes head* you cant be serious. I question your intelligence if this statement is actually true. You have no idea who this CEO is other than this 3 minute video lol. Have you dealt with CEOs like this before? Does anyone who uses big words and talks with confidence impress you that easily?
@@BNezzy you such a hater! 😂
@@BNezzyI have an idea of why you don’t like him 😂 stop that hate man
@@LouisianaInNOut I dislike CEOs like him. Plain and simple. I find their character deplorable. You can assume its jealousy like your sarcastic comment implies but it aint that.
@@Jia9s why? Could say the same thing about the types of people you dislike too. The fact you jumped to "hater" with no supporting argument says more about you.
I love the professionalism and clarity this CEO has & how impressive to be 35 and doing this! He seems involved and poised to lead! Love to see it !
He speaks well for a…
@@keith1854Sigh. Proof that cockroaches are hard to get rid of.
@@keith1854 Come on go ahead don't be shy finish the sentence
@@keith1854 N
@@keith1854 Russian guy
I wish this young man the best. I hope he makes Red Lobster better than before.
And he’s black which I love even more!
@@ajohndaeal-asad6731so if he was wyte u not gonna love him even more?
@@ovuvuvwevweonyetenyevweugw3949 i mean we have enough white ceos already
Nope! Why should he happy for a white man being a CEO it's enough of them already let him be proud of his fellow BLACK brother
@@ovuvuvwevweonyetenyevweugw3949you literally have a black name, that's my uncle's name🙄
Wow. This man seems brilliant, humble, and has a quiet confidence about him. The fact that he started off talking not about Wall St. expectations, numbers, profits, but rather the staff and them being burned out was very telling. He’s worked in restaurants before and he knows what he’s doing. Very intelligent acting man.
He speaks objectively about the business but respectfully about about the people. I respect that.
He forgot to mention caring about the customers, the most important aspect of a business. Taking away the one reason people went to his shitty restaurant is not gonna help the business, I promise
@@lordhoweproductions3733I thought people went for the biscuits not the shrimp. I agree the restaurant kinda sucks either way.
@@sunrope77 you can buy the biscuits at any grocery store and just make them at home. If you do it right they taste the same. I don’t have endless shrimp at home 😆
@@lordhoweproductions3733 I agree with you that it is the most important aspect of the business. However, I think that it is SO important, that it shouldn't need to be mentioned. I can't understand businesses that have to say that they are "customer focused". Any employee of a company, from top to bottom, should keep that in mind, always.
I think he has his work cut out for him. Why did we have to have an outsider explain that the unlimited shrimp was a bad idea?
@@lordhoweproductions3733 fair enough😂
There's a certain edge to him that makes me think he might be lowkey ruthless behind the scenes. Like he just might turn things around, but some people gonna crying too.
He has that puff daddy vibe
More like Gus Fring from breaking bad
The thumbnail they used made him look devious, whole reason I clicked lol
@@Godzillaroll22-ry5iwlol I was thinking this too 😂
Nah, he seems condescending the way he talks. Doesn’t mean he will be a better CEO for it. His analysis is correct though, but a fool would’ve been able to pick up what was wrong with red lobster
It wasn’t endless shrimp. It was Private Equity. PE sold the land out from underneath the stores, rented it back to them at ridiculous prices, then the company went bankrupt. PE basically made the money back in the land and bankrupted the company, putting people out of work.
This is true. Surprised they are sticking to the narrative that endless shrimp caused their financial woes.
Thanks for sharing this. I guess if they raised the issue, it would seem anti business, but what you described is happening to often these days.
Same thing happened to Sears.
@@SharonAvery-yj5pg lmao because it’s a good excuse for the general uneducated public as the reason why their favorite places go out of business all of a sudden.
It was just a reference to that product, and it's something everyone identifies with as a consumer, your story doesn't get clicks , despite being reality.
This is the type of management that is desperately needed at many companies. Intelligence along with integrity and respect for the employees??? Don't see that too often. Very proud of this young man✨✨✨ There is hope after all
He sounds relatable and down to earth, which is unusual for CEO
down to earth if you also went to every party get drunk and hit people in highschool. Look it up he was from Springfield
It's nice to listen to someone who knows what he's doing. His experience as a server in a restaurant has been instrumental to where he is now
Have you ever heard of lying? 🤥🤡
@@lyssanch3096have you ever heard of not being an ass? Give the CEO a chance and stop discrediting people immediately.
@@brandenlucero these corporate types always lie about being in the bottom like their lowest paid employees
Future good for America politicians. Accountability. The only thing that cures honesty. 😮
@@lyssanch3096 "food quality is good at red lobster always has been"; he is off to a good start.
Deep frying frozen fish and seafood is no longer a recipe for success (har har).
When he said, "Please, take the whole thing, I have had it plenty of times!" it reminded me of Gus Fring (Breaking Bad). And now I can't unsee it.
Now that you said that, I do get those “ Gus Fring Vibes ). But, don’t you worry, I have a remedy for that.
Kind of yeah lol but all the good things 😊
It just made me think he wasn’t down with sharing…
My entire UA-cam is Breaking Bad/Better Call Saul/Gus Fring/Pollos Hermanos videos and I literally clicked on this to get a break yet I still couldn’t escape this comment 😂😂😂
@@HiThisIsMineyeah I mean it’s kind of weird to split a lobster tail with another man you’ve never met before in your life.
Man nothing but respect to this guy ...35 and running red lobster....bravo my man 🙏🏿
I never cared much for Red Lobster, but now I’m excited to see what he can do for the restaurant. Will check it out in a few years.
Diversity hire never improved anything. Like when Yahoo made that woman CEO
excited lol
I don’t really eat seafood but all of a sudden I have a hankering
I have eaten there in years. Will be going back in a while too in order to see if it's changed since he took over.
I agree. Give it a few years to see what he does
Very intelligent young man.
Nothing in this vid sounded intelligent lol just a bunch of meaningless chat
@@thebeautifulgame64I’m sure you’re also the CEO of a billion dollar company…so your opinion really really matters. Thanks👍
Don’t have to go to Harvard business school to speak about the basics of business. Any degree from any university in business administration has you understand at the level he is speaking at. If you didn’t go to school but were an entrepreneur you figure all this out in real time with mistakes but you learn it that way too- real fast.
Chill he was a cultural hire
@@thebeautifulgame64your name sound unintelligent bro
I'm the reason 😅...i ate 135 shrimp one sitting.
🤣
You axle!
😭😂🤦🏾♀️
Your DNA results came back, man is 50% shrimp now
😂😂😂😂
social media is such a crazy tool. Have the CEO come on a video and present himself as a sort of relatable everyman for a few minutes, now everyone thinks he's a great person. then, they associate that perception with the company. a team of 40+ people (probably even more) worked on just the script for a 3 minute video, getting the presentation just right. crazy world we live in if you know how to leverage it.
Yep, scripted 💯
@@mega_game_playyour white huh 😂😂😂
Lmao yeah these people are lobotomites
Yep, this could have quite easily been a hit piece about an 'underaged' CEO ruthlessly closing locations, changing menus and limiting high value items for patrons. Refreshing that it's not negative but still makes you wonder
Yes dude you see through the façade. So do most of us. But instead of just looking at it as someone trying to con you into buying something or believing something try to see that the truth always lies somewhere in the middle. Red Lobster employs 30,000 people nationwide. These people have families. They have bills. This is for them too. This young dude got his life together early on and while this might be one sly PR stunt you can tell he’s passionate about his work and wants to genuinely succeed. It’s also rare that you find someone who used to be a server shoot up through the ranks to the top.
Think if you were in his position. What would you do differently? Or would you just sit back and criticize? That’s why you’re probably not a CEO and commenting on UA-cam just like me. We can tell you’re smart man. Don’t let that get to your head and play along once in awhile. Matter of fact go try Red Lobster!
Such a respectable young man. Can't wait to see where he takes the company!
No doubt he's smart but he's a little cocky. Is ego is a little too big
@@dylantedlockNo, you’re just insecure which is why you felt that way
@@dylantedlock where in the video did you get that 🙄?
@@NiniEJ The way he was talking to him.He needs communication skills
@NiniEJ Not saying he is smart but he reminds me of donald trump smart but doesn't know how to chat
That guy is super impressive. Love to see young people like this coming up and taking on highly visible leadership positions. Best of luck to him and the RL business.
Red Lobster's "Endless Shrimp" promotion happened for over 18 years without a problem. Private Equity did this, not the promotion. They sell off the land that the restaurants owned, and other assets, and then they rent the land back to the company at inflated rates. Why not tell the truth?? Oh... Private Equity is actually in charge here.
How do you know this?
Yep as someone who worked for them in various roles in years past. As much as this promo was not fun from an operational standpoint, it made money… until a particular PE firm came in and restructured things. There were even other things going on, such as affiliated supplier price gouging from Thai Union.
Wow!
You’re right, but as someone who used to work there, it was an utterly chaotic promotion every year both for the value prop and the employees.
@@divinecomedian2it came out 7 days after the endless shrimp headlines, in the bankruptcy courts
I’m absolutely here for it! Growing up Red Lobster was my favorite restaurant and did not want it to close. I look forward to the amazing growth he is about to do for the chain.
This is the kind of person you listen to and just immediately like.
your going to like this to in highschool he would go to every party get blasted drunk and hit people. Hes from Springfield look it up went to high school with em
not for me
What a professional and polite gentleman
He’s going to take this company to another level! Amen!!
Great to see a CEO really connecting with his team and speaking plainly.
Sounds like this CEO is gonna bring success to the business. Comes across as friendly , too , in a reserved sort of way. Best of luck ! We don't have Red Lobster where I'm at but they might expand to our part of the world . Who knows .
It called a corporate takeover. The assets are sold off and the company borrows money. Then the company pays huge money to their leaders. Then the leaders leave with a bonus check. Then the company hires a new CEO to deal with the company going bankrupt and failing. The is the new CEO or the fall guy.
umm he is black...we are very use to being the fall guy for the white effing shh up
This!!!! You’re right, it happens all the time. Media will pick it up and blame it on the coupons (be bath and beyond), endless shrimp (red lobster), etc etc. However, most of the time it’s private equity that runs the places into the ground, wash, rinse, and repeat.
From what I remember they sold the land out from under them and leased it back at a much higher price. It’s def a corporate takeover. The endless shrimp is just the bullshit they sell to the public.
Upvote for awareness. That private equity firm/entity/whatever did this company dirty. This is why there are regulations in this country, and why we need more, because this shit will continue to happen.
This was a Hedge fund takeover... Sold the paid off land and leased it back. Now there is a huge expense that now takes all the money that once was used for employees, improvements, and essentially profit It took less than 5 years to completely destroy the company. But nice to see how they blame gluttons... it was the fat asses that made us go bk - complete bs.
Brown, Harvard and CEO at 30 years old and now 35 years old? This guy has extreme confidence and definitely a unicorn. Not envious, just appreciation for a person who can do so much.
really? appreciative? yikes.
@@BNezzy what’s wrong with appreciating someone who’s better than you? Were you a CEO at 30 years old for a nationally known company?
@@secondamazonprime-kv5xo you ever think and wonder what it takes to become a CEO by age of 30? Have you ever been involved in the corporate world to know what occurs when a CEO like this takes over a company? Have you ever been involved in a company that went through this?
To answer your questions: 1. Nothing as long as you know more about the person than a 3 minute video. 2. No I was not as that desire has never been in me as I know what kind of morals/ethics/character traits it takes to do a job like that and that isnt me nor would i ever want to have those things.
@@BNezzy to answer your question yes I was a CEO but I was not 30 years old I was 45 years old. Until you have been there stay in your lane because you are correct you will never know.
Plus you seem to assume a lot. Probably why you are in your situation in life both personally and career wise. See what I just did? I assumed. I’ve been following him since his days at PF Chang.
@@secondamazonprime-kv5xo well said.
Endless shrimp was a compliment/perk for red lobster customers. Like an all you can eat buffet separates itself.
Change isn't always good
It was not endless Shrimp. It was tapeworm called private equity.
Every Chinese buffet near me has "endless shrimp" and the price is about $15-20 depending on the place, yet they have been doing well for decades.
@@BlindedByLogicthat’s different from having 500+ stores under one franchise doing the same thing
@@thetruthsayer8347 Finance bros loaded up the business with debt then declared bankruptcy.
EXACTLY!!! and red lobster owned almost all of their properties and when the private equity firm came in and took over, they sold the properties and leased it back to red lobster company essentially killing the company
Nope
Nigerian CEO at 35. Very smart man 🇳🇬 🇳🇬 🇳🇬
What does race have to do with this
@@zombiewombb He is only stating facts! Race has something to do with it because you made it a point to comment about race specifically
@@jadew9177 Race has nothing to do with this. Actual Africans come here and thrive. The majority of native born African-Americans carry on the tradition of eternal umbrage which has netted us exactly next to nothing.
He was a ceo at 30
@@dyfox3856 That what winners look like.. He apparently did a good enough job at P.F. Chang's that Red Lobster felt he can get them on track. I wish him much success.
It’s great to see this young brother so passionate about making a difference in his profession. I admire how he combines passion with professionalism, staying authentic, articulate, and bringing experience from the ground up, starting as a server. At just 35 years old, he’s accomplished and has a clear vision and mission for the Red Lobster franchise. He’s an excellent role model for young business professionals who aspire to one day lead businesses and earn similar opportunities.
He is of course not disclosing any about the Private Equity disrupting the operations. If endless shrimp is the dagger, there should never be any buffet restaurants.
This restaurant has been around forever. Literally apart of my childhood. Family gatherings, celebrating and just a dinner out treat.When it was affordable. I'm happy to hear this .
His analysis of what was wrong with the endless shrimp was on point. I worked for a major pizza chain for 20+ years. When they would run a promotion like BOGO, or any pizza at 50% off, it would create more work, and more food cost for less money. People who tend to go for promos like that usually are poor tippers also. The thought behind it is to gain new loyal customers, but in reality, most of them will just go to the next place that runs a cheap deal.
Its not why Red lobster went bankrupt though. this is a puff piece that meant to white wash the corporate raiding and monopsony/trust problems red lobster faced when its corporate owners also owned the sole supply of seafood for red lobster.
Chilis in a nutshell
Of course, you can make the same pizza at home for roughly $3. Why would anyone want to pay full price for mid pizza?
@@PhillipCummingsUSA Obviously for convenience or out of laziness. The same reason people don't cook their own shrimp.
@@ericriffel8954😂😂😂😂 right
It’s sad how so many people misinterpreted what he just said . what I heard spoke to the quality of the food. Stress on cooks , stress on service staff which can bring down the quality of service and food the customers get . They had a menu that was too large and endless shrimp which was chaos which reflected in the quality. To me that says he realized customers were not getting the best plates for the price. That’s why red lobster isn’t as popular as it was in the 90s and people aren’t lining up to eat there on a sat/sun for 40mins anymore. Obviously this man has a business mind and a clear understanding of how to take care of staff and customers . It’s about best value. Stop focusing on whether he came from the hood or not either way his journey to get to where he is was greater than yours
💯
@@timguillory6339 okay but that doesn’t explain the quality of the food . The last time I went to their restaurant which was probably 12-13 years ago it sucked .. nothing like the red lobster I grew up with . The biscuits were dry, im not sure if they offered a 2nd basket.. nor did I want more . The shrimp was dry and overcooked the lobster was very small and overpriced. That’s when I knew red lobster was going downhill .what did that experience have to do with the land it sat on? Nothing. Most people don’t know nothing about that but they do remember the atmosphere looked run down and the food stopped being good so they stopped going and the business closed doors because the people stopped making reservations to eat there. Bad business is jus another thing but shitty food and service leads to no wait for a table and no tip
I remember going on dates and using red lobster as a place to impress. Jus saying oh we going to red lobster would put a smile on her face . Let her get the $30 plate .. now that place is embarrassing ,but I hope it makes a comeback cause I luv seafood and talking about how special it was to go as a kid with family.
much simpler than that. I live on a double peninsula. Florida is a peninsula, and st pete(City in florida) is also an peninsula. Both my city and my state are surrounded by water on 3 sides. No reason to go to a chain seafood restaurant when we have so many great local spots.
@@lexnolast1779 The people that failed Red Lobster, aren't the people that own it now. Private Equity came in to suck the husk dry.
A black CEO and not a piece of ugly bling or scruffy baseball cap in sight, just crisp n sharp tailoring, pure class. So refreshing to see young executives in classic attire. I’ve really seen a CEO who thinks and speaks so clearly a lot of common sense and logical things. It’s no surprise he said he’s been a CEO multiple times and he’s only 35 years old. Folks like him are visionaries. They know how they want a company to operate to be considered successful, and what’s needed to get there before they’ve even seen the books.
Nigerian parents results
CEO is very impressive. I’m gonna drop by for a meal just to support him. Haven’t been to one for 10 yrs plus
Never trust them smooth talking CEOs of large companies. He would never be put in that postion if he wasn't a master at knowing how to screw people.
Both of you guys said some real shit fr
Was just about to agree with the original comment
And now I also agree with the second comment here
Good stuff in the comment section today
Comment 1 or 2? Id like to know which people think makes more sense
@@Jeybonez it's common knowledge that American greed is what it ALWAYS boils down to in this country. Slave the workers, cut corners and fool the customers into over paying what the product/service is really worth.
@@Jeybonez American greed is what it ALWAYS boils down to
Bro, what destroyed red lobster was that they sold the land the stores sat on and then rented them back at a higher cost
I agree that that was probably the primary factor but could you imagine owning a seafood restaurant in today's economy also? Imagine owning any restaurant...
Not even close. Lol they had a CEO and board that decided to work with companies that worked with cheap labor and subpar shrimp.
Not even close at all. It was a business decision to work with cheap corporations with subpar shrimp and other fish products. They got away from quality and went with cheapness.
@@ArizonaSquatch If so, then why did they have such long lines to eat? Thinking you may have part of the problem, but it’s more like a combination.
Nope , your wrong
He sounds like a very intelligent and articulate CEO. 35 with the insight of a 50 year old CEO. I think Red Lobsters in good hands now in a very difficult industry.
Intelligent and articulate? Do you say this about whites too or is it just assumed that they are both? The fact that this was even stated shows a subconscious bias. Ridiculous
He IS Intelligent and articulate. Let’s stop telling people of color that. It’s not actually a compliment because it comes with the connotation that we’re expected not to be. He went to Brown undergrad and has an MBA from Harvard Business School. He’s an incredibly smart and well educated guy. Just a thought.
seemed like a pretty elementary analysis from him to be honest.
@@EclecticElegance13is there a single situation you people won’t play the victim card?
@@EclecticElegance13He just complimented him, relax.
No more endless shrimp?? I'm never going back!! LOL
This is a fluff piece and people are buying it. Red lobsters issues weren’t that they offered to great a deal but that private equity stripped the company of all its value.
too bad they didn't focus on the overlords who bought the land and raised rent prices....endless shrimp isnt what killed red lobster
😂😂 You know this, why?
Thats how corporate power works. CNN doesn't care about a lobster restaurant chain. This is public relations to promote the new CEO as a business genius, and they make their commercial advertising look like new reporting. It doesn't make sense that CNN work interview a restaurant CEO. Who cares? This is a commercial.
Nope , your wrong
EXACTLY. Private Equity was the real culprit behind Red Lobster's bankruptcy. Blaming Red Lobster being in the red solely on offering "Endless Shrimp" sounds better from a media narrative point of view and to keep investors happy.
Endless shrimp was one of the reasons
The cost of shrimp has increased substantially, and that's why there are in this situation. One of the worst business decisions
Second time CEO at 35. Damn. I aint doing SH-T with my life! LOL 😂🤣
Sound like you are Bragging about it.
@@MrKirktaylor1❤❤❤ 😂😂🎉🎉🎉🎉😢😢😢😮😅😅😅😊 1:24 "".
I’m only 19 but I want to be like him when I’m 35
Meanwhile 29 yo unemployed me who can't hold a job because I'm too weak/slow for blue collar and too dumb for white collar
😂😂😂😂
It’s awesome to hear someone who cares about improving upon the brand rather than just financial growth. You have to be committed to the brand, money comes along with that
I wish more companies understood this
FIX THE TITLE!!! private equity broke this company. levered up the balance sheet, sold off the real estate, locked in teribble leases, and funneled money to the shrimp supplier who they owned.
Making your purpose to improve the experience for the customer AND the 30k employees is a perfect closing statement that really shows his character.
The fact they didn't put this man's name in the title shows you the amount of respect they have for him
Yep
It’s at 0:57
You oready
He is the fall guy
Hats off to you young man. I remember when I used to work at Red Lobster over 30 years ago the restaurant was amazing. Over the years I saw the decline of service and the quality of the food. My daughter and I went for her birthday in June this year and we noticed right away the change for the better. Great, outstanding, excellent job. Keep up the good work.
It had nothing to do with the shrimp. The problem is Private Equity; but I imagine CNN already knew that and ran the story anyway.
"The sum of the parts is greater than the whole" . Private Equity business model keeps them rich. I don't know why they don't sell off the parts faster?
Private equities are always the kiss of death.
i doubt it because they are reporters doesnt mean they really know how to do the job. but i agree with you a bad example but shoneys had all u can eat shrimp on i think monday nights for years. they had all you can eat breakfast for decades. its not the all you can eat. its about execution. but food quality, training of the staff and cleanliness of the restaurants will go a long way. you cut in any of these areas business going to suffer.
Then why are you hear?
You claim to despise CNN & yet you always find your way to their comment section, imagine that!
It literally says he explained what went wrong with the promotion of endless shrimp, not that endless shrimp is what was wrong with the company.
Woah, I’ve never seen such a young CEO of a major company. And he looks even younger than he is too. Very impressive for someone to be this young and CEO. But hearing him speak, I’m not surprised a major company would have confidence in him
@zvmZvm0102wow…please! But if he was “white” what would it be called ?
It seems that black hires being labeled “DEI” has become the new obsession.
@zvmZvm0102how about is fucking track records ?
@zvmZvm0102 how's that DEI ? That means any black person that's intelligent, and can do the job will be accused of only getting a job due to his ancestry. That's such a rediculious and petty statement. What would make you feel more comfortable? An old white guy ? What ? What you're saying is that no matter how much education, intelligence, and networking skills, he will always be deemed unworthy?
Plus, his surname sounds Nigerian. Nigerians and other western Africans are some of the most intelligent and successful immigrants in universities and the workplace in America and north america today. It sounds like you have a bias.
Do I think DEI should exist? No, but to accuse every black person as a dei hire is quite racist and only reinforces proof that some people in society are bigots and jealous. God BLESS that young CEO.
@zvmZvm0102 Let me ask you something, if Trump choose Ben Carson, who I think would be a much better VP pick, over Vance, would he be a DEI hire or no ?
It's a recipe for disaster.
Wish you all the best, hope you turn RED LOBSTER around, it's an iconic brand!
We need more of you in positions of authority all over the world. Integrity, Accountability, Responsibility and Respect go A Long way 👏🏾👏🏾👏🏾💯.
That's incredible. Very intelligent, confident and ambitious. He's a role model. Good work to him!
WoW 😳.... Salute to this young Man 🙏💯
He'll make his money and then move on. Regardless if Red Lobster wins or loses. It's what CEO's do.
A friend & I ended up at Red Lobster for lunch 5 months ago. We were both shocked at how good the food was! I never really gave it a chance in the past, but I will definitely go again. We enjoyed our meals very much.
The Cajun Fettuccine Alfredo is the best I have had at any restaurant. The Cheddar Bay biscuits are really good too.
@@Vincent67337 Yup, the biscuits are absolutely delicious! Dang, I’m gonna try the Cajun Fettuccine. Thanks!
@@Vincent67337 Pappadeux has a good version called Pasta Mardi Gras.
You can tell he comes from a working class family. The fact he obviously respects his workers is so refreshing to see from a CEO. We need more leaders like this in the corporate world.
Damn. CEO of two companies by 35? Impressive. He obviously takes the work seriously.
NO, YOU JUST DON'T TAKE LIFE SERIOUSLY
@@RayNagin504😂😂😂
@@RayNagin504 what? Lol why are you trying to insult me numb nuts?
@@RayNagin504you got the weirdest bad energy lmao go away😂
@@RayNagin504 get a life bro 😂
"In 2014, Nagin was convicted on twenty of twenty-one charges of wire fraud, bribery, and money laundering related to bribes from city contractors before and after Katrina[3][4][5][6] and was sentenced to ten years in federal prison.[7][8]" - Wikipedia
Hilarious bro
Remarkable amount of emotional intelligence and empathy coming from this guy.
His personality is so attractive ❤
You people are completely ignorant. The resutaunt will failed. There is nothing good about this place now. Run down by a DEI and low quality service just gets worse.
@@Menga213 Wow, dude. Blatant racism right there. Shame on you.
This young man sounds like a knowledgeable, thoughtful person. I think Red Lobsters is in good hands.
Who would sit for hours and eat that much shrimp. No one should be sitting no more than an hour. That is just gluttony
It’s really nice to see a CEO that is young, intelligent and passionate about what he does. It really makes me want to support his business to make sure he can help grow the Red Lobster brand.
you forgot to add dei hire in highschool this dued would go to every party get blasted drunk and hit people. Hes from Springfield look it up
Their food is trash now and service is deplorable. And got the nerve to charge $45 for the ultimate feast. And the cooks aren't cooking it like it should be when it was $24.99. Come on
I agree, i went back for the first time in years recently and was shocked by the price of "Ultimate Feast" my fav meal. It wasn't even good, the lobster tail was small and the crab meat in the leg shells were very thin.
I used to work there and the staff are not the problem the kitchen would be routinely understaffed and management would force hosts to sit customers even when servers were beyond capacity. Having 10 tables to wait on at a time you can’t possibly give great service. Couple that with endless shrimp clogging the kitchen up it was a nightmare to work weekends.
@@IronWolf277 Well apparently you haven't taken a look at the supermarket for how much seafood costs. They aren't setting the price at $45 to turn an enormous profit... Seafood is insanely expensive. Source: I'm in charge of food orders for a (not Red Lobster) restaurant
@@KingJerbear The lobster tail and crab legs barely had any meat in the shells. Not worth $45 at any restaurant or grocery store.
They used to feed lobsters to prisoners because it was considered "Low teir" food. Now prisoners sometimes request lobster as a last meal. Oh how the times change.
The rich ruin everything. Houses used to be cheap too then the rich turned them into a commodity.
Lobster was improperly cooked backed then. It was practically poison the way it was served a long time ago.
Yep a lot of people don't realize this. 🦞 was for a very very very very long time considered unclean and would rot you from the inside.
Lobsters back in the day were all ground up. With the shell (!!!). That trivia goes around everytime lobster is mentioned but it's incredibly misleading.
I ceo who understands that a large portion of a businesses success isn't just profits but also its employees, this is refreshing and I look forward to see where it goes.
Still blaming the shrimp? We know the venture capitalists are to blame, not the fat Americans. The VC's sold the properties the stores were on, then made them rent back the spaces, causing over 100 locations to fold. But sure, keep blaming the customers 🙄
So Americans aren’t empirically overweight??
That dude had never seen a shrimp in his life... Much less ever eaten seafood or ben to the ocean 😂 he's from the streets
Yup exactly well said.
@@lynch6642you sure about that? He looks like he puts a lot of shrimp in his mouth
@@lynch6642from the streets? U weak lil minded adult…even in the hood shrimp is eaten with that being said…😂😂😂YOU MAD THAT BLACK MAN RUNNING A COMPANY AND ABOUT TO TURN IT AROUND!!
My Nigerian brothers keep taking over, they keep counting us out and we keep proving them wrong 🇳🇬
You should consider fixing your own nation first.
Now if they took away the free cheddar biscuits, they would go out of business.
Thank you red lobster and other entities that provide endless shrimp including buffets I am a big fan of these promotions and I will continue to support your establishment in the future I was unaware you went under but I know you were putting the customer first
Endless shrimp my ass..They would bring you super small amounts and you wouldnt want to keep waiting on a server instead of bringing enough..Whats 4 shrimp going to do.
It wasn't normal shrimp they were serving. It was subpar mini shrimp. Not of good quality
We found the guy in the chat who wants more for less
There was frequent “shrimp challenge” on social media, who could eat the most shrimp… without ordering anything else… that’s not how you run a business…
@@nychris2258 Welcome to the United States of America.
Endless shrimp may work in another country but Americans have no shame and will eat until they die
This CEO is very impressive! They will do great.
Twenty-five years ago when I was like 20, I remember getting a really big bonus at my job and taking my whole family to Red Lobster. It made me feel like such a grown up. I def. don't want to see it go away so I'll be suporting. Rooting for this young new CEO.
what tf kinda job you had at 2?
@@xami926 🤣I meant 20 smarty🤣
As someone who used to work at a red lobster that left halfway through this, it was hell. Hoping the best for them
When I was in the US Marines back in the mid-1980's my buddy and I did our best to put the Oceanside CA Red Lobster out of business. We ate so much of their all-you-can-eat shrimp... it was probably us that started the company's financial difficulties. Sorry everyone.
We all know corporate Greed killed Red lobster.
@mokomaka141 Nope corporate greed.
@@oscarjohnson2355free shrimp is corporate greed?
@@qdakid7776 Nothing is free.
@@oscarjohnson2355 doesn’t answer my question
@@qdakid7776 Corporate is on this game, 100% They will launch some bs and then blame the masses for it later on. Same thing with the "elites" controlling the world. Trust nothing you see on ads, TV, your phone, the internet, et cetera.
I thought that was Scottie Pippen for a second
Scottie Shrimppin
@@Corean_Jesus Fantastic 😂
Congratulations my brother
He never mentioned the loss of real estate and ensuing debt load. The company was stripped by a corporate raider. This is why they will never survive.
Endless shrimp wasn’t necessarily a bad thing. They just let it go on for too long. It should’ve been very limited in its structure. Literally only a few days a week and only for a few hours of the day. In fact, it should’ve only been in season for a certain time of year. It should’ve been very structured very restrictive because shrimp are expensive and when you can eat them endlessly it could really cut into a companies profits and that’s what happened here.
Taking a more inelastic product and selling it in a model made for elastic food product was not good business. Especially when there were no close competitors doing the same
Yes, somehow the previous moron management had no business sense…
I agree. That was one of their best features. Now im inclined to go there less
It was very limited and very structured. I have not had that in a few years but I remember the first plate is normal size and then all the following plates are saucer size and it is not just shrimp solo. It is mostly shrimp pasta dishes which are heavy in carbs and msg to fill you up quick. We are not talking jumbo sized shrimp either. We are talking those small shrimp you can buy wholesale at 10 dollars per 2 lbs bag or at 4 dollars and 44 cents per 1 lb when you buy a 40 lb case.
Exatxly what u ssid is spot on
..
Wow! He’s impressive!🙏♥️
Trust me getting rid of the endless shrimp will not SAVE Red Lobster lol that’s when 99% of customers came in!
Trust me, NOT getting rid of the endless shrimp would hurt them way more. They estimated that if they kept that promotion running even 3 weeks longer they wouldve had to close nearly half of all their stores. So getting rid of it was the right decision regardless on your own opinion
@@Tylorgng. I mean obviously I understand the business side of it. No way to make money that way. What I’m saying is that is when 99% of customers came in. So basically Red Lobster is cooked (literally)
@@TYoung21 You say you understand but it doesnt seem like you do. Getting rid of a promotion that was losing them money doesnt negatively affect them. Those "99%" of customers were COSTING the company money. So how does getting rid of 99% profit loss make Red Lobster cooked?? They had a customer base long before that promotion.
@@Tylorgng. if you want to believe the shrimp was the reason for red lobster failing you are so out of touch with reality that there’s no help for you lol
@@Tylorgng.you must have some stake in red lobster or something haha endless shrimp was not the problem you bozo it was private equity. Do your research
The problem was to quit having chefs prepare food and going to frozen cruise ship style meals and cutting quality and quantity and charging more for less 😊
The food is horrible now . I went to one 2 weeks ago. I hope he turns it around.
Yes it was bad for the price. I can get same taste from the frozen aisle for $10.
35 years old with the wisdom of someone far older. This dude knows his shit and you can tell he surrounded himself with fantastic mentors.
People just sitting for hours eating endless shrimp should have been seen from a mile away. That imagery is also hilarious 😂
Honestly how much Shrimp can someone eat
I have been to Rob Lobsters during shrimp fest and that is NOT the case. The restaurants were still mostly empty. It is NOT really endless shrimp. It should be called shrimp pasta because most of the dishes are shrimp pasta dishes heavy in carbs and msg to fill you up quick. Only the first place is regular size. After that all you get is small saucers of the shrimp pasta. A lot of people like me cannot digest their biscuits or garlic butter sauce without diarrhea so if I have to go to Red Lobster i just get a salad and my husband can eat that stuff because he does not have the same reaction to their garlic butter sauce that is on the biscuits and most of their seafood dishes. Several people in my family have the same reaction as me to their food.
The endless shrimp may have been abused in the worst way. Hearing stories that some folks purged themselves in the restroom , then went back for more shrimp...