Red Lobster on hunt for new chief executive

The CEO of Red Lobster is retiring.

Kim Lopdrup announced his plan to retire but will stay with the iconic restaurant brand until his successor is named. Red Lobster has hired The Elliot Group to conduct the CEO search, which is already underway.

"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, My Red Lobster Rewards,” said Lopdrup. “We have great initiatives in the pipeline and a terrific leadership team in place. I'm confident we are well-positioned to attract an outstanding new CEO who can lead Red Lobster to greatness over the next generation." 

Lopdrup led the iconic seafood restaurant brand for 14 years, including through three turnarounds. He first led a turnaround as president from 2004-2011 when the brand was owned by Darden Restaurants. Then, when Red Lobster became an independent company in 2014, Lopdrup returned as CEO and led a second turnaround. Most recently, he successfully led the company through the COVID-19 pandemic. 

Lopdrup gives credit for this most recent turnaround to the company's employees. 

"Our employees are heroes," said Lopdrup. "Our team's loyalty, resilience and hard work during the pandemic was incredible. Our people truly are the heart and soul of Red Lobster."

After his retirement from Red Lobster, 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.