Kelli Valade has announced her resignation as chief executive officer of the Red Lobster casual restaurant chain, effective April 15. The Orlando, Florida-headquartered company, a major buyer of frozen fishery products including shrimp, crab and salmon in addition to lobster, has begun a search for her successor.
Valade joined the company just eight months ago, in August of 2021, replacing Kim Lopdrup, who had been on the job for 14 years. She assumed the helm after spending two years as president and chief executive officer of Black Box Intelligence, and more than two decades at Brinker International as brand president and other executive positions at its Chili’s Grill & Bar unit.
Under her leadership, a new strategic framework and go-forward plan with a focus on the core guest and the need for value, was established. In addition, she recruiting a new chief financial officer and was instrumental in building out the executive team, adding newly-created roles of chief marketing officer and chief information officer.
Stating that her decision to leave was “incredibly difficult, but necessary,” without elaborating on the reason, she added: “Red Lobster is a beloved, iconic brand with a loyal guest following and incredibly smart and talented employees…We’ve accomplished a lot in a short period of time, including building a great leadership team that alongside the board will carry the business forward to achieve our vision. I have truly loved my time here at Red Lobster.”
“On behalf of the board, we thank Kelli for her service and accomplishments during her tenure as ceo, including navigating through the most recent wave of the Covid-19 pandemic. She has helped us assemble a talented and highly capable leadership team to lead us forward. We wish Kelli the very best in the future,” said Rittirong Boonmechote, chairman of the board of directors.
Following Valade’s departure, Red Lobster’s executive team will work closely with the board to continue to drive the brand forward and ensure business continuity during the search for a permanent replacement. Board member Paul Kenny will serve as the liaison between the company’s leadership and the board during this time of transition.
Red Lobster is ranked as the world’s largest seafood restaurant company, operating at more than 700 locations across North America, as well as in Puerto Rico, Ecuador, the United Arab Emirates, Quatar, China, Hong Kong, Japan, Malaysia Guam and the Philippines.
