Red Lobster CEO Kim Lopdrup, who has been at the helm of the Orlando, Florida-headquartered seafood restaurant chain for 14 years, has announced plans to retire. He will remain on the job, however, until a qualified successor is found to replace him.
Commenting on the retirement decision, Lopdrup stated: “The pandemic is finally winding down, and Red Lobster has emerged with the best menu we’ve ever had, vastly improved off-premise systems, a stronger business model and over 10 million members in our award-winning loyalty program. With great initiatives in the pipeline and a terrific leadership team in place, I’m confident we are well positioned to attract an outstanding new chief executive officer who can lead the company to greatness over the next generation.”
Lopdrup has led the chain through three turnarounds, beginning as president from 2004-11 when the brand was owned by Darden Restaurants. Later, when Red Lobster became an independent operation in 2014, he returned as chief executive officer and engineered a second turnaround. Most recently, he maneuvered the company through SARS-CoV-2 (coronavirus) crisis.
“The Covid-19 pandemic was the greatest challenge Red Lobster has ever faced. We had to make rapid pivots to keep everyone safe and meet our guests’ needs for safe, convenient off-premise experiences with curbside pick-up, delivery and the introduction of Family Feasts,” said Lopdrup. “Having tripled our off-premise sales and then gradually reopened dining rooms as Covid-19 faded, we have hired about 20,000 employees since the beginning of January.”
After his retirement, Lopdrup plans to remain on the boards of Wawa, Bob Evans Restaurants and Kalera, a hydroponic vertical farming company for which he recently agreed to serve as the next chairman.
