Chang's Chief Executive Officer, who guides the business in strategic efforts to ensure the ongoing progress of one of the biggest luxury Asian restaurant brands in the world. Chang's is opening its first location in China as an 'American bistro', "P.F. ]); as well as other partner offers and accept our. Chang's. He's one of America's youngest and most dynamic CEOs.. Changs To Go takeout locations. Chang's, was focused on growing the restaurant chain's to-go services before the pandemic hit. Adamolekuns day starts around 6 a.m. Save my name, email, and website in this browser for the next time I comment. Title At Company . For instance, how much does P.F. 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. Changs menu? But since there is no sign of his relationship with anyone, it is assumed that he has not yet exchanged vows. What customer behavior has continued since the pandemic? cnx.cmd.push(function() { [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. Hes been leading the company since 2020. What did you know about casual dining restaurants prior to this gig? For example, when we decided to expand our self-delivery program, we took a few weeks to thoroughly evaluate the program. He is 32 years old now. Chang's completes sale to TriArtisan Capital", "P.F. Damola Adamolekun, the CEO of P.F. He spends an hour working from home each day before heading to the office for in-person meetings. divId: 'div-gpt-ad-rightrail-2', as well as other partner offers and accept our. Previously, Adamolekun has worked in the Investment Banking Division of Goldman Sachs and as a Private Equity Associate at TPG Capital. B.E. Everything You Need To Know. Black Men XCEL }); EVENTS Ans) Damola holds the nationality of American. ET, Washington Post . env: 'prod', Since 2020, he has been leading the company to ensure its continued growth and success. Even though Adamolekun, who also played defensive back at Brown University as an undergrad, is the CEO of P.F. Since 1970, BLACK ENTERPRISE has provided essential business information and advice to professionals, corporate executives, entrepreneurs, and decision makers. CB Rank (Person) 36,255. He was also on the board of directors at the International Tower Hill Mines LLC. Chang's beginning July 1st, 2020, Damola Adamolekun was well aware of the extraordinary challenges facing the firm. Chang's Confirms Credit Card Breach", "P.F. The restaurant experience was lacking, and there was nothing special about the ambiance compared to Chilis or Applebees. Top editors give you the stories you want delivered right to your inbox each weekday. Chinese food. Duchess of the Month: Dr. Mrs. Misitura Lawal-Arowona: Nigerian Scientist with Groundbreaking Invention Saving Millions from Tuberculosis, A New Dawn! Damola Adamolekun became CEO of P.F. It was a pretty transformative thesis, between remodeling the entire fleet and building a digital infrastructure and delivery.. I've read almost every novel written by Chinua Achebe, Jeffrey Archer and Dan Brown. For Adamolekun, being back in the restaurant industry is a full-circle moment. Pope Francis appoints more women to Vatican posts, I enjoy my father in-law on bed than my husband, Former BET Boss, Debra Lee Joins Procter & Gamble Board Of Directors, Aissa Dione The Story Of An Inspirational African Textile Revivalist Who Has Captivated The Worlds Leading Interior Designs Brands. Damola Adamolekun - Mr. Adamolekun is a Vice President at Paulson, where he has played a vital role in the sourcing and subsequent management of a number of the firm's largest investments since 2016. I didnt plan to operate the business when I did the deal. } Required fields are marked *. So weve remodeled about 80% of the fleet, introducing more colorful decor, ambiance, and music. subcat: '', The history maker used to be a server in his high school days. tag: 'mandc,black-ceos,newsletter-2,restaurant-business,restaurant-chains,restaurant-industry', According to data firm Technomic, P.F. Besides a short-lived job at a local restaurant as a teenager, Adamolekun has no operating chops in the restaurant industry. The CEO we hired was wonderful, but hes in his mid-70s and an old-school operator. Changs. We wish you a happy and prosperous new year! See the Schedule, Movies Selected & More + Angelique Kidjo announced as Festival Ambassador, Hon. cat: 'leadership', He is 32 years old now. SUGARING NYC is a fast growing franchise. Starting at 8 a.m., the meetings begin and tend to come fast and furious for the remainder of the day. I knew the company when the deck landed on my desk. Changs, an American-based Chinese-fusion restaurant franchise founded in 1993 by Paul Fleming and Philip Chiang. You were living in New York as a finance guy before all this. For Adamolekun, the change in the companys culture included leadership showing the rank and file they will work as hard for success as they are, including rolling up their sleeves and making work not just about the food, but about corporate goals. Chang's China Bistro, a popular Asian casual-dining restaurant chain based in the U.S.Since 2020, he has been leading the company to ensure its continued growth and success. Management Number of Founded Organizations 1. Damola Adamolekun was born in 1990 in Scottsdale, Arizona, United States of America. 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 explained to Fortune. Adamolekuns Routine for Personal Success. Duchess International Magazine is an inspirational, lifestyle, fashion and style publication that unveils what women in the higher rung of success ladder, from different walks of life went through and how their experiences have shaped them into what they are today. 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. 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. Chang's and lives in Scottsdale, Arizona. Always exciting to help with a Ribbon Cutting and a Grand Opening Event for a new business. Hes one of the few Black chiefs of a major U.S. companyP.F. Others have added that employees often get free or at least discounted meals, which certainly contributes to the perks of working at P.F. And what do its hourly employees make? Chang's. This as-told-to essay is based on a conversation with Damola Adamolekun, the CEO of the restaurant chain P.F. Changsrevenue rose 32%to $922 million last year. The Herald News - Nigerian Newspaper delivering reports on Politics, Government, Entertainment, Sports and more. Finurah is a guide to wealth building and financial news for African-American families that are committed to closing the racial wealth gap. Chang's accelerates expansion of To Go concept", "Centerbridge Buys P.F. Chang's Rewards program which enabled leakage of members' information, due to a poorly implemented API.[24]. SUGARING NYC is a fast growing franchise. What matters more to me is managing operations at scale because we have 200 restaurants. We hired a CEO to run it, but we had a lot we wanted to change. Q3) What is the net worth of Damola Adamolekun? Since the 1970s, its flagship product Black Enterprise magazine has covered African-American businesses with a readership of 3.7 million. Damola Adamolekun is an experienced vice president at Paulson & Company. If he sees something unusual, according to MSN.com, he sets a plan to call Art Kilmer the COO to discuss it. Changs which was bought for $700 million in 2019. env: 'prod', But he says that doesnt matter because his reliance on data-based decision-making has helped him guide the next iteration of P.F. cat: 'leadership', The chain specializes in American Chinese cuisine, plus other Asian dishes. Chang's in June 2020 at the height of the pandemic shutdown, after serving on the board as a partner with Paulsen & Co., which acquired the casual-dining . Damola Adamolekun made history when he became P.F. The company brought in $922 million in revenue. Masthead. It kind of happened by accident. These improvements have indeed rubbed off on the companys finances, as P.F. aid: '794590', Edit Overview Section. Economic Equity & Racial Justice Townhall Series, Elevate Black Podcast sponsored by Fifth Third Bank, 100 Founders of Change by American Express, Chasing Success Podcast by JP Morgan Chase, Black Business Month Sponsored by Nationwide, 2022 Registry Of Corporate Directors Listing, 2021 BE Registry Of Corporate Directors Listing. Damola has not yet revealed if he is married or not. Chang's, where he leads the company in strategic initiatives ensuring the continued growth and success of one of the largest upscale-dining Asian restaurant brands around the world. 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 Adamolekun was a defensive back at Brown University, where he received his undergrad degree. A better plan? Changs had a revenue burst of 32 percent in 2021. Chang's in Scottsdale, Arizona on Friday, Oct. 21, 2022. Changs operates 300 locations in 22 countries[9] and U.S. airports,[10] including P.F. Your email address will not be published. Chang's Announces Lease Accounting Changes", "P.F. But we saw it as a huge opportunity. Damola has played the lead role in the subsequent sourcing management of many firms largest investments. Changs China Bistro (private), NuLeaf (private), and Inday (private). Chang's is famous for its delicious cuisine, notably the chicken lettuce wraps (a must-try appetizer), the endless amount of sushi options, the Mongolian beef, and, of course, its ever-popular sesame chicken. Some chains own the space for pizza and wings, the biggest delivery categories, but nobody really owns it for Asian food. [5], In 2010, "P.F. [13], In 2012 Chang's accepted an offer from private investment firm, Centerbridge Partners in a deal valued at $1.1 billion. Contact will hit people like an asteroid, says he used Obama meeting to urge regulation. window.tude = window.tude || { cmd: [] }; He often visits restaurants to meet the team and get feedback. "The lighting was too bright. The closure of businesses Length: 25 page (s) Publication Date: Mar 30, 2021 Discipline: Strategy Product #: 721380-PDF-ENG 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. 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. 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Adamolekun earned his bachelors degree in Economics from Brown University where he was a member of the Ivy League champion Brown Football team and served as President of the Brown Investment Group, and his Master of Business Administration from Harvard Business School where he served as Portfolio Manager for the HBS Investment Club. How Rich Is The P.F. Changs. Chang's and has also played a major role in the subsequent sourcing management in large investments firms. Chang's restaurant was brought to light by various sources, and later confirmed by P.F. 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. div_id: 'div-gpt-ad-rightrail-2', 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 . 1 min read Meet Damola Adamolekun, the CEO of P.F. Your background is in finance and dealmaking. Perfect body. He uses a Word document to track priorities and measure progress on the year's action plan. Damola is P.F. Digital tools like apps and delivery services have helped the company in this space. } 2023 THE QUINTESSENTIAL GENTLEMAN | CRAFTED BYCORRICA. page_type: 'article', 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. This article is about the restaurant chain. Copyright 2020 - All Right Reserved. 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. Changs China Bistro recorded a 31.7% increase in sales in 2021 compared to the year before, data analysts firm Technomic stated. Then came COVID, which was a catalyst for delivery and takeout. The CEO we hired was wonderful, but hes in his mid-70s and an old-school operator, Adamolekun said. What matters more to me is managing operations at scale, Adamolekun says. We have a guest reservation system that makes their jobs a lot easier. We have tablets for paying at the table, which allows our servers to run around a little less. Changs Chief Executive Officer, who guides the business in strategic efforts to ensure the ongoing progress of one of the biggest luxury Asian restaurant brands in the world. Report: Lil Kims Years Long IRS Battle Nears End. Meet Damola Adamolekun, 33-year-old Nigerian leading US restaurant chain. Chang. Embracing self-love the key, Hon. I started coming to Scottsdale, Arizona (P.F. Turned out Adamolekun was the CEO the chain needed. Since 2020, he has been leading the company to ensure its continued. Is that just marketing? So he speaks some Dutch. 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. 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. Damola has 2 jobs listed on their profile. This story was originally published on Insider July 12, 2022. aid: '794590', He spends an hour working from home each day before heading to the office for in-person meetings. But thats not something I can control, so we focus on what we can, like wages and benefits. }); !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); FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. 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. This site uses Akismet to reduce spam. Its a title thats very prestigious in our organization. Gender Male; Jobs. It allows for clarity and open lines of communication, eliminates potential misunderstandings, and lets us spot potential issues early since we're in constant contact. "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. We do that for every new hire, but my job isnt making food. He is 32 years old now. Get 5 free searches. Changs has 200 full-service restaurants that bring in about $ 1 billion a yearand is just 33 years old. Changs China Bistro, a popular Asian casual-dining restaurant chain based in the U.S. SistersInc. What is your favorite dish at P.F. P.F. Adamolekun continues to be a partner at Paulson & Co. Beige central.". baseDivId: 'pb-slot-right-1', Its not rocket science at the end of the day; its something to learn, but its learnable. Did some of this training include you just rolling up your sleeves and preparing food in the kitchen? Chang's focus on guest experience and improving the lives of their 15,000 employees. 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. Perfect day. Chang's beginning July 1st, 2020, Damola Adamolekun was well aware of the extraordinary challenges facing the firm. 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. Damola Adamolekun is the Chief Executive Officer of P.F. In 22 countries [ 9 ] and U.S. airports, [ 10 including... Restaurant-Chains, restaurant-industry ', chang 's Rewards program which enabled leakage members. 33 years old now contact will hit people like an asteroid, says he used Obama meeting urge! Meet the team and get feedback who also played defensive back at Brown University as an 'American '... 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Adamolekun says has covered African-American businesses with a Ribbon Cutting and a Grand opening Event for a new!! His day at 6:00 a.m. examining reports from his home office 'prod ', Centerbridge! With anyone, it is assumed that he has been focused on exceeding the expectations of Millions of and!