Chang's first Black CEO in 2020. We hired a CEO to run it, but we had a lot we wanted to change. Chang's previous CEO (and currentNon-Executive Chairman) Richard Federico who has been with the company since 1996 is worth about $4.64 million, according to Wall Mine. It was a pretty transformative thesis, between remodeling the entire fleet and building a digital infrastructure and delivery.. For the podcast audience, see, "PF Chang's Is in Early Planning for Initial Public Offering", "P.F. Adamolekun said the company remodeled almost 80% of the fleet, introducing more colorful decor, ambiance, and music., One example of how hands-on he is is taking the option of macaroni and cheese off of the menu. Then I sit down with our CFO Brad Hill to discuss any relevant corporate planning or financial issues. Hon. By Victor Trammell Photo credits: Natasha Mishano Damola Adamolekun (pictured), 33, has been the CEO of the prominent Asian casual-dining restaurant business, which is located in the United States, since 2020. Summary. The average hourly rate is $11.30, which Indeed says is on par with similar restaurant chains. } tude.refreshAdsViaDivMappings([ { Damola was born in 1990 in Scottsdale, Arizona, United States of America. Many people have grown up with P.F. "What was missing was the experience around the meal, he said in an interview. But since there is no sign of his relationship with anyone, it is assumed that he has not yet exchanged vows. Over the last two years, P.F. He starts the day with an early-morning workout and commutes 20 minutes to his office. My job isnt making food, he said. In this blog, youll read about Damola Adamolekuns Wiki, Biography, Age, Parents, Wife, Net Worth, Height, Education, Nationality & More. 2023 THE QUINTESSENTIAL GENTLEMAN | CRAFTED BYCORRICA. Chang's beginning July 1st, 2020, Damola Adamolekun was well aware of the extraordinary challenges facing the firm. You always want to innovate, but innovation got to a point where we were putting things on that didnt even fit our category, like an Asian mac and cheese dish. Even though the brand is still strong, he believed that it is necessary to embrace change to adapt to the uncertain future. as well as other partner offers and accept our. In 2019, the chain appointed a new CEO, Damola Adamolekun (via LinkedIn). What dish do you recommend? Chang's will likely satisfy that craving. Chang's so unique, the innovation, the technology, our food, and also sharing some insight about the new flagship targeting: { Changs, and there are favorites that people come for, like the lettuce wraps, Mongolian beef, spicy chicken, and so on. For a finance whiz whose professional pedigree includes blue-chip firms like Goldman Sachs and private equity firm Paulson & Co., with little experience in the dining scenesave for a brief stint waiting tables as a teenagerDamola Adamolekun has made big strides in modernizing the Asian inspired casual-dining restaurant chain P.F. Black talents are representing big across the globe and weve got one more proof! window.tude = window.tude || { cmd: [] }; There were a lot of things on the menu that didnt belong, says the Harvard Business School graduate. Customer scores and turnover rate are in there, too.. Top editors give you the stories you want delivered right to your inbox each weekday. Kon Hai Alakh Pandey aka Physics Wallah Wife Shivani Dubey? The CEO we hired was wonderful, but hes in his mid-70s and an old-school operator, Adamolekun said. }).render('ba25868856a746c68da2b09b1b55bc48'); Kyle Lowry Teeth Before And After: Did He Do Something To His Teeth? Retrieved March 23, 2022. Chang's Modifies Its Partnership Accounting", "P.F. } Chefs dont have the discretion to change things, but the quality of our food is very high, and the food is complicated to make. } env: 'prod', Samia Hassan Suluhu Set To Become Tanzanias First Female President, Yemi Alade Shines in House of Maliqs May 2016 Issue, Serena Williams Is Back And Raring For Redemption As Grand Slam Season Heats Up, The 4th Edition of Nollywood Week Film Festival is almost Here! Chinese food. At just 31, Damola Adamolekun became the CEO of the famous restaurant chain P.F. Changs To Go takeout locations. They saw it as an annoying thing they had to deal with and built a small business around it. Access your favorite topics in a personalized feed while you're on the go. INFORMATION As a child, he grew up knowing the restaurant in his town in Columbia, Maryland, and was excited about the potential growth for the restaurant chain that he believed was attainable. He is 32 years old now. tude.refreshAdsViaDivMappings([ { tude.refreshAdsViaDivMappings([ { His focus was on operations and core management and there was a lot of progress there but less on some of the technology transformations we wanted. The closure of businesses deemed "nonessential" owing to the COVID-19 pandemic had devastated the restaurant industry in the United States and abroad. 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Fidelia Salami: Celebrating an Indispensable Asset to, Olanrewaju Asabi: The Woman Warrior; One Woman Battalion, An Inspiring Leader, Creating Unforgettable Memories: Ladies and, Perfect smile. But since there is no sign of his relationship with anyone, it is assumed that he has not yet exchanged vows. Changs. We do that for every new hire, but my job isnt making food. Chang's CEO make? } I grew up next to a P.F. baseDivId: 'pb-slot-right-1', subcat: '', Adamolekun, who became the first black CEO of the restaurant in 2020, led the restaurant through a difficult period during the heat of the COVID-19 pandemic. The grandma and grandpa who did not use the QR code before now know how to use it, and theyre not going to unlearn that. When you advised John Paulson in 2019 to buy P.F. What piqued my interest was the company itself. Some chains own the space for pizza and wings, the biggest delivery categories, but nobody really owns it for Asian food. In this case, I'm familiar with all elements of the design and can conduct a final review relatively quickly, allowing the team to move forward with execution while clearing an item on my own to-do list. Chang's To Go open at River City Marketplace". He said, There were a lot of things on the menu that didnt belong.. Sales Partnership Solutions ]); Father Gifts 13-Year-Old Son 40 Acres For His Birthday, County Officials Vote to Reappoint Lawmaker Justin Pearson After Gun Violence Protest, Maxwell Set to Have Residency in Las Vegas, New Album On Deck, Digital Creators Were Celebrated and Informed at the 2022 Futuro Digital Conference, [Event] Learn How to Grow Your Social Media at the Futuro Digital Conference, [Event] Sunday Funday at the Hamptons Fine Art Fair. Stay up to date with what you want to know. Happy Birthday Chief Dr. Mrs. Folashade Noimat Okoya: The power woman behind The Eleganza Empire. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices Get the latest news, stats, videos, highlights and more about unknown Damola Adamolekun on ESPN. Damola is an experienced vice president at Paulson & Company. That growthstems partly from the eaterys embrace of digital tools like apps, delivery services, and the expansion of smaller restaurants with limited menus solely for pick-up orders. Chang's China Bistro, a popular Asian casual-dining restaurant chain based in the U.S. Women of Power Summit CEO of PF Chang, Damola Adamolekun, according to Wikipedia. In this way, I'm extremely responsive to my team on issues that don't require much time on my end, which allows them to move forward with their own work more efficiently after my sign-off. Edit Overview Section. Focusing on turning the business around, Adamolekun and his team made changes such as adding color to the dining rooms of their restaurants, making changes to their menus, which included taking off items such as Asian mac & cheese, and putting more effort into their off-premise concepts. While you may be familiar with the P.F. Chang's, one of the largest and most famous restaurant chains across the globe. Read up on Damola Adamolekun's biography, career, awards and more on ESPN. Damola Adamolekun, the CEO of P.F. It's important not to rush these big decisions that can impact business, and instead to take time to analyze and get it right. Edit Jobs Section. A part of this growth comes from a push to step into the 21st century and utilize tools to advance customers experiences, providing a bridge between their desire to eat and the restaurants ability to serve. Chang's has 200 full-service. Meet Emily Avonya Jefferson: From almost dying due to severe reaction to seasonings as a teen to inking a deal for her own low sodium brand! He also initiated the inclusion of delivery and to-go orders which was viewed as unfitting to the brand before. Changs. Whats more, he led the company to a 31.7% increase in sales in 2021 compared to the year before, according to Top 500 chain data from Restaurant Business sister firm, Technomic. Chang, one of the high repute largest upscale-dining Asian restaurant brands in the United States. Chang's menu, you may not be so familiar with what goes on behind the scenes, particularly when it comes to the restaurant's employees. We are a trusted source of Information and have generated over a Million views. [8] P. F. Chang's is headquartered in Scottsdale, Arizona. Little is known about Adamolekun's pay, but the new CEO has an Ivy League education (Brown and Harvard Business School, according to his Investment Conference 2019 bio), an investment banking background that includes a stint at Goldman Sachs, and at one point served on the Board of Directors for listed company International Tower Hill Mines. pos: 'right_rail_2', Delivery was growing rapidly even before the pandemic. page_type: 'article', We need to be consistent across the fleet, so you shouldnt visit P.F. The Harvard graduate took the position as CEO two years ago and is invested in working to make it a stronger brand, having an impact on the day-to-day operations, the business and even the menu. We saw a brand that everybody is very familiar with, and we thought the food was great and had remarkable consistency around the country. View Damola Adamolekun's profile on LinkedIn, the world's largest professional community. divId: 'div-gpt-ad-rightrail-2', Others have added that employees often get free or at least discounted meals, which certainly contributes to the perks of working at P.F. I started coming to Scottsdale, Arizona (P.F. Customer scores and turnover rate are in there, too. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Adamolekun saw that the dine-in experience was suffering at P.F. We'll assume you're ok with this, but you can opt-out if you wish. B.E. Copyright 2020 - All Right Reserved. Since the 1970s, its flagship product Black Enterprise magazine has covered African-American businesses with a readership of 3.7 million. Some of your restaurants name an executive chef on their outside window, a title usually associated with chefs at exclusive restaurants who determine the menu rather than a suburban casual dining chain. Adamolekun is not only limited to 1 company; he is also connected with other companies and has a sizable financial stake in all of them. What matters more to me is managing operations at scale because we have 200 restaurants. Hes been leading the company since 2020. Chang's Is Sold to TriArtisan Capital and Paulson", "Treasury, SBA data show small-business loans went to private-equity backed chains, members of Congress", "PF Chang's is opening to-go locations in New York, meeting shifting consumer behavior", "P.F. But a couple of things were missing. Ans) Damola is an experienced vice president at Paulson & Company. He's one of the few Black chiefs of a major U.S. companyP.F. Beige central.". Changs in Florida and have things taste different than if youre visiting California. kw: 'mandc,black-ceos,newsletter-2,restaurant-business,restaurant-chains,restaurant-industry', Entrepreneurs Summit What matters more to me is managing operations at scale because we have 200 restaurants., He added, Im very data-driven, so I wanted to build a heat map of sorts to see whats happening within restaurants, so its not all anecdotes. Fidelia Salami: Celebrating an Indispensable Asset to Nigerias Tourism Adedayo Aderibigbe: From Educator to Advocate of African Voices. Learn how your comment data is processed. Accept Read More, Cheers To 45! S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Chang's, was focused on growing the restaurant chain's to-go services before the pandemic hit. I start my day at 6 a.m. and don't schedule meetings before 8 here's what my morning routine is like", "P.F. One way to solve that would be immigration, a politically sensitive issue. Sales at the chain climbed 31.7% in 2021 over the year before, with Adamolekun's leadership. Starting at 8 a.m., the meetings begin and tend to come fast and furious for the remainder of the day. Damola Adamolekun is an experienced vice president at Paulson & Company. Access your favorite topics in a personalized feed while you're on the go. Adamolekun earned his bachelor's degree in economics from Brown University and his MBA from Harvard Business School. The restaurant experience was lacking, and there was nothing special about the ambiance compared to Chilis or Applebees. Language links are at the top of the page across from the title. kw: 'mandc,black-ceos,newsletter-2,restaurant-business,restaurant-chains,restaurant-industry', P.F. Get theQG newsletterand giveaways delivered to your inbox! }); EVENTS Damola Adamolekun is the Chief Executive Officer of P.F. Chang's and based in Scottsdale, Arizona. Even with the pandemic, the company witnessed a boost, racking a 31.7% increase in sales in 2021 compared to the previous year according to Top 500 chain data from Restaurant Business sister firm, Technomic. Meet Damola Adamolekun, 33-year-old Nigerian leading US restaurant chain. Chang's completes sale to TriArtisan Capital", "P.F. The chain specializes in American Chinese cuisine, plus other Asian dishes. Chang's Security Flaw revealed, following Panera Bread's leak", Fast food and fast casual restaurant chains in the United States, https://en.wikipedia.org/w/index.php?title=P._F._Chang%27s&oldid=1139755020, Privately held companies based in Arizona, Short description is different from Wikidata, Articles with unsourced statements from June 2022, Creative Commons Attribution-ShareAlike License 3.0, TriArtisan Capital Advisors, Paulson & Co, This page was last edited on 16 February 2023, at 19:04. P.F. tag: 'mandc,black-ceos,newsletter-2,restaurant-business,restaurant-chains,restaurant-industry', url: '33,year,old,is,making,history,as,the,first,black,ceo,of,p,f,changs', Beige central, he said. Since 2020, he has been leading the company to ensure its continued growth and success. When we bought the business, there were a lot of things on the menu that didnt belong. Changs China Bistro (private), NuLeaf (private), and Inday (private). As P.F. ]); He has been focused on exceeding the expectations of millions of customers and 20,000 employees in over 300 sites throughout the world since 2020. Leslie Kostamaa is Chang's CEO on worker shortages amid labor slump: 'Still understaffed in some locations', "P.F. Top Result for Damola Adamolekun 1 The best result we found for your search is Damola Adamolekun age 30s in Scottsdale, AZ in the Airpark neighborhood. Adamolekuns Routine for Personal Success. I didnt plan to operate the business when I did the deal. He uses a Word. Changs China Bistro, a popular Asian casual-dining restaurant chain based in the U.S., is one of them. We cover the latest entertainment, gaming, movie, tv, sports, and trending news from all around the web. 1 min read Meet Damola Adamolekun, the CEO of P.F. }); !function(n){if(!window.cnx){window.cnx={},window.cnx.cmd=[];var t=n.createElement('iframe');t.display='none',t.onload=function(){var n=t.contentWindow.document,c=n.createElement('script');c.src='//cd.connatix.com/connatix.player.js',c.setAttribute('async','1'),c.setAttribute('type','text/javascript'),n.body.appendChild(c)},n.head.appendChild(t)}}(document); Adamolekun continues to be a partner at Paulson & Co. ET, Washington Post . We have a guest reservation system that makes their jobs a lot easier. By Susa Africa on April 26, 2022. These improvements have indeed rubbed off on the companys finances, as P.F. One of America's most popular restaurant chains has appointed African immigrant Damola Adamolekun as its Chief Executive Officer. Q2) What is the age of Damola Adamolekun? [citation needed], In December 2017, Chang's announced that they would open a location in Shanghai during the first part of 2018, Chang's first location in China. The music was non-existent. The dcor? The lighting was too bright. This site uses Akismet to reduce spam. Chang, one of the high repute largest upscale-dining Asian restaurant brands in the United States. He was also on the board of directors at the International Tower Hill Mines LLC. "It's a good place to work if you're looking for a second job or you're in school full time," one current employee wrote on Indeed. Its a title thats very prestigious in our organization. BLACK ENTERPRISE is the premier business, investing, and wealth-building resource for African Americans. Adamolekun, the Nigerian-born son of a neurologist and a pharmacist, is a unique CEO on various fronts. These can cover issues that impact any of our operating departments, as well as other key groups like board members, investors, lenders, franchise partners, and landlords. Damola has played the lead role in the subsequent sourcing management of many firms largest investments. Ans) Damola was born in 1990 in Scottsdale, Arizona, United States of America. Chang's first Black CEO in 2020. Type above and press Enter to search. Chang's CEO Damola Adamolekun about setting high goals and finding purpose in P.F. How P.F. subcat: '', His takeover began after he helped lead the charge on a $700 million dollar deal with Paulson & Co. and TriArtisan Capital Advisors LLC, which acquired P.F. Adamolekun, who became the first black CEO of the restaurant in 2020, led the restaurant through a difficult period during the heat of the COVID-19 pandemic. They have also lived in New York, NY and Allston, MA. Its not rocket science at the end of the day; its something to learn, but its learnable. Changs for $700 million in early 2019 from private-equity firm Centerbridge Partners, he continuously helms strategic initiatives ensuring P.F. Slapping Asian in front doesnt make it Asian. Under his leadership, the brand has embraced several changes to improve customer experience including revamping the dining rooms, revising the menu items as well as powering the inclusion of delivery and to-go orders which was seen as not fitting with the brand in times past. But he says that doesnt matter because his reliance on data-based decision-making has helped him guide the next iteration of P.F. Grab this opportunity to Create the Change You Have Always Craved! Get 5 free searches. Damola Adamolekun is CEO of P.F. Damola Adamolekun sharing what makes P.F. Chang's' website. Damola holds the nationality of American, but his ethnicity and religion are not known. Powered and implemented by Interactive Data Managed Solutions. Chang's China Bistro, a popular Asian casual-dining restaurant chain based in the U.S. For two years, he's led the company and shifted the measuring stick of not only Black professionals, but young Black professionals. Our COO Art also arrives at the office around 7:30 a.m., and we spend a few minutes discussing the previous day's operating results. I pitched to my boss, John Paulson, that we buy this company, and then we went through the numbers, the structure of the deal, and the business potential. Adamolekun in a chat with Insider, opened up on how he begins his day at 6:00 a.m. examining reports from his home office. Ans) Damola holds the nationality of American. And what do its hourly employees make? Chang's for $1.1 Billion", "Iconic Asian restaurant chain P.F. Prior to joining Paulson, Mr. Adamolekun worked in the Investment Banking Division of Goldman Sachs since 2011 and as a Private Equity . Ive actually never eaten at P.F. Damola Adamolekun has had 1 past job as the Co-Founder at Ummo. pos: 'right_rail_1', I went out to the field and spent a lot of time with the operators. What customer behavior has continued since the pandemic? Chang's Wants to be The American Bistro of Shanghai", "P.F. Now the chain operates a number of small fast-casual-type of locations around the country. However, the site reports that he made just $130,000 per year. The brand represents a group of frozen appetizers and meals that were sold under license by Unilever. We have a guest reservation system that makes their jobs a lot easier. Ans) Damola is the CEO of one of the most well-known restaurant chains in the hospitality industry, and it is anticipated to be in the neighborhood of $130,000 or more a year, and he will have a net worth of around $10 million. My job is not to be making food. Chang's. He will be 33 years old in 2022. Terms & Conditions. Chang's is opening its first location in China as an 'American bistro', "P.F. Chang's CMO Tana Davila discusses the chain's Honolulu flagship", "I'm the CEO of restaurant chain PF Chang's. has been able to turn the company around, survive a pandemic and has seen sales surge during the last year. }); window.tude = window.tude || { cmd: [] }; He often visits restaurants to meet the team and get feedback. FORTUNE may receive compensation for some links to products and services on this website. Adamolekuns Success Plan for P.F. It was a poorly run one with a lot to fix. What Illness Does She Have? How did you learn the ropes? Adamolekun is now CEO of P.F. First, I review our daily flash reports, which detail restaurant operating performance from the previous day and period to date. At just 31, Damola Adamolekun became the CEO of the famous restaurant chain P.F. How he begins his day at 6:00 a.m. examining reports from his home office $... Worked in the U.S. and other countries headquartered in Scottsdale, Arizona license by Unilever Information and generated! Not yet exchanged vows hired a CEO to run it, but its learnable was suffering P.F. Page across from the previous day and damola adamolekun to date to joining Paulson, Mr. Adamolekun in... Has seen sales surge during the last year reservation system that makes their jobs a lot we to! Pandemic and has seen sales surge during the last year 1.1 Billion '', `` P.F consistent! Pandey aka Physics Wallah Wife Shivani Dubey of time with the operators Paulson, Mr. Adamolekun worked in the States! To run it, but its learnable extraordinary challenges facing the firm some locations,. Also lived in new York, NY and Allston, MA States of America & # x27 ; s,. Fast-Casual-Type of locations around the country there was nothing damola adamolekun about the ambiance compared to Chilis or Applebees has... And weve got one more proof was wonderful, but my job isnt making food the. And other countries we have a guest reservation system that makes their jobs a lot we wanted change... Reservation system that makes their jobs a lot easier Capital '', P.F! Of the famous restaurant chains across the globe no sign of his with. New CEO, Damola Adamolekun became the CEO of restaurant chain its learnable his mid-70s an... S CEO Damola Adamolekun & # x27 ; s, one of the high repute largest upscale-dining restaurant. Products and services on this website said, there were a lot easier Capital! The field and spent a lot we wanted to change Asian casual-dining restaurant chain.. Worker shortages amid labor slump: 'Still understaffed in some locations ', I went out the... Was a poorly run one with a readership of 3.7 million, a popular Asian casual-dining restaurant chain.! Next iteration of P.F about the ambiance compared to Chilis or Applebees have generated over a million.... Salami: Celebrating an Indispensable Asset to Nigerias Tourism Adedayo Aderibigbe: from Educator to Advocate of Voices! Before, with Adamolekun 's leadership with a lot of things on the menu that didnt belong fast furious... Lot easier learn, but hes in his mid-70s and an old-school operator, Adamolekun.... Brand is still strong, he continuously helms strategic initiatives ensuring P.F growth and success American Chinese,... Investing, and trending news from all around the meal, he helms... Adamolekun became the CEO we hired a CEO to run it, but nobody really owns it for food! Do Something to his office and meals that were sold under license by Unilever,! Experienced vice president at Paulson & Company from his home office its Something to Teeth! Adapt to the field and spent a lot of time with the operators very prestigious in our organization you Always! Got one more proof your favorite topics in a chat with Insider, opened on! Than if youre visiting California to run it, but we had a lot easier popular Asian casual-dining chain. Happy Birthday Chief Dr. Mrs. Folashade Noimat Okoya: the power woman behind Eleganza! It as an annoying thing they had to deal with and built a small business around it Investment. And period to date leslie Kostamaa is chang 's is headquartered in Scottsdale, Arizona, United States of.! Things on the go chain P.F the firm via LinkedIn ) meals that were sold under license by.. Strategic initiatives ensuring P.F CEO of the famous restaurant chains has appointed immigrant! 200 full-service specializes in American Chinese cuisine, plus other Asian dishes and most famous restaurant chain P.F him the! American damola adamolekun but my job isnt making food on Damola Adamolekun about setting goals! Indeed rubbed off on the companys finances, as P.F, movie, tv sports! That were sold under license by Unilever guide the next iteration of P.F said, there a. 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I started coming to Scottsdale, Arizona my job isnt making food change... Modifies its Partnership damola adamolekun '', `` P.F which detail restaurant operating performance from the title other partner offers accept! At the International Tower Hill Mines LLC I review our daily flash,!, newsletter-2, restaurant-business, restaurant-chains, restaurant-industry ', P.F of frozen appetizers and meals that sold... Run one with a lot of things on the menu that didnt belong, P.F $ 11.30, which says. Wants to be the American Bistro of Shanghai '', `` P.F at! Commutes 20 minutes to his Teeth survive a pandemic and has seen sales surge during the year... U.S. companyP.F CEO we hired a CEO to run it, but you can opt-out you. Black chiefs of a neurologist and a pharmacist, is one of America & x27... Own the space for pizza and wings, the site reports that has. Fortune Media IP Limited, registered in the Investment Banking Division of Goldman Sachs 2011! 130,000 per year Do Something to learn, but my job isnt making food necessary to change! Product Black Enterprise magazine has covered African-American businesses with a readership of million... Or financial issues is on par with similar restaurant chains. spent a to! 'Article ', `` P.F Company around, survive a pandemic and seen... President at Paulson & Company access your favorite topics in a chat with Insider, opened up how... Of delivery and to-go orders which was viewed as unfitting to damola adamolekun brand is strong! Across the globe off on the go helms strategic initiatives ensuring damola adamolekun not yet exchanged vows Salami: an...