Retrieved March 23, 2022. Chang's and based in Scottsdale, Arizona. 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. Chang CEO Damola Adamolekun talks about the restaurant chain's recovery after the pandemic on "Bloomberg Markets: The Close." (Source: Bloomberg) At just 31, Damola Adamolekun became the CEO of the famous restaurant chain P.F. Damola is an experienced vice president at Paulson & Company. Damola Adamolekun is the CEO of restaurant chain P.F. baseDivId: 'pb-slot-right-1', Changs China Bistro, a popular Asian casual-dining restaurant chain based in the U.S. env: 'prod', } Its Our Publisher Duchess Bolaji Odunugas Birthday and We Cant Southern Africas Shisa Nyama: A Feast for the Senses. SUGARING NYC is a fast growing franchise. Since the 1970s, its flagship product Black Enterprise magazine has covered African-American businesses with a readership of 3.7 million. His focus was on operations and core managementand there was a lot of progress therebut less on some of the technology transformations we wanted. Chang's Confirms Credit Card Breach", "P.F. In 2019, the chain appointed a new CEO, Damola Adamolekun (via LinkedIn).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 . targeting: { The music was non-existent. 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. Top editors give you the stories you want delivered right to your inbox each weekday. Chang's to open first of several To Go locations in Chicago", "P.F. Black talents are representing big across the globe and we've got one more proof! } He has invested in many companies and has a good amount of financial stake in them. To enable the restaurant adopt to the uncertain times imposed by COVID-19, Adamolekun equally initiated the inclusion of delivery and to-go orders which was viewed as unfitting to the brand before. Changs China Bistro (private), NuLeaf (private), and Inday (private). Leslie Kostamaa is Some of his innovations include revamping the dining rooms and revising the menu items. By Susa Africa on April 26, 2022. Copyright 2020 - All Right Reserved. Happy birthday, 10 Reasons You Absolutely Must Attend the International, Celebrities Rocking Bantu Knots: The Revival of a, Its Our Publisher Duchess Bolaji Odunugas Birthday and, Five Tips For Ensuring Your Happiness in the, Here is Why Self-Care is More Important Than, Charity Training Ghanaian Women In Professional Driving, First Black Woman to Join US Secret Service, Zandra Flemister Dies at 71 After Battle with Alzheimers and Racism, Rewriting History! 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. By: Ashish Nanda, Nitin Nohria, Margaret Cross Excited yet apprehensive after being named CEO of P.F. Jacksonville Daily Record. Customer scores and turnover rate are in there, too.. It was a pretty transformative thesis, between remodeling the entire fleet and building a digital infrastructure and delivery.. The closure of businesses deemed "nonessential" owing to the COVID-19 pandemic had devastated the restaurant industry in the United States and abroad. Mr. Adamolekun serves on the Board of Directors for International Tower Hill Mines (NYSE: THM), P.F. 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. Damola, who is now 33-years old, has been essential in the evolution of P.F. These improvements have indeed rubbed off on the companys finances, as P.F. This is when the young whiz kid came up with the idea of managing the company versus hiring someone else to lead the vision, according to an interview in Fortune. Chang's Home Menu license from Unilever in August 2012. Thats why the labor market is so tight. Besides my own to-do list, this document also has our company vision statement, core strategies, and yearly action plan to help keep me centered and focused. Damola Adamolekun made history when he became P.F. As P.F. For the podcast audience, see, "PF Chang's Is in Early Planning for Initial Public Offering", "P.F. There were a lot of things on the menu that didnt belong, says the Harvard Business School graduate. He starts the day with an early-morning workout and commutes 20 minutes to his office. Your email address will not be published. Damola had completed his Bachelor of Arts in Economics from Brown University, and after that, he completed a Master of Business Administration from Harvard Business School. The 33-year-old will manage over 200 physical locations and is responsible for maintaining or expanding the almost $1 billion the business brings in in a year. It was a poorly run one with a lot to fix. Changs stores it currently operateswithin a few years, as well as 1,000 take-out stores, compared to 18 today. 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. But since there is no sign of his relationship with anyone, it is assumed that he has not yet exchanged vows. 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. He is not only limited to a single company. Brooklyn Rapper On Track To Reportedly Settle $1 Million Tax Debt, In New York, San Francisco, and Honolulu Your $300,000 Salary Feels Like Just $100,000, 50 Cent Reveals Why He Only Paid $800 In Rent Even Though He Had Banked $53M. Chang's accelerates expansion of To Go concept", "Centerbridge Buys P.F. The restaurant experience was lacking, and there was nothing special about the ambiance compared to Chilis or Applebees. He says the first thing he does is check on the restaurants operating performance from the day before and compare it to a certain period of that day by reviewing daily flash reports. Changs. He uses a Word document to track priorities and measure progress on the year's action plan. aid: '794590', Overview. This interview has been edited and condensed for clarity. 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 beginning July 1st, 2020, Damola Adamolekun was well aware of the extraordinary challenges facing the firm. subcat: '', Designed and Developed by Fovero Digital Technologies, This website uses cookies to improve your experience. 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! Changs first full-size restaurant in the city. 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. P.F. What Illness Does She Have? 2023 Fortune Media IP Limited. First, I review our daily flash reports, which detail restaurant operating performance from the previous day and period to date. Women of Power Summit Since 1970, BLACK ENTERPRISE has provided essential business information and advice to professionals, corporate executives, entrepreneurs, and decision makers. Your background is in finance and dealmaking. I'm an expert Scrabble and draughts player who is also excellent at swimming. Changs as a part of its corporate portfolio, Adamolekun was familiar with the brand. Is Warren Mundine Related to Anthony Mundine? Damola has played the lead role in the subsequent sourcing management of many firms largest investments. Changs, what did you see that you thought you could improve? He is 32 years old now. This site uses Akismet to reduce spam. The chain specializes in American Chinese cuisine, plus other Asian dishes. [8] P. F. Chang's is headquartered in Scottsdale, Arizona. Q4) Who is the girlfriend of Damola Adamolekun? Chang's for $1.1 Billion", "Iconic Asian restaurant chain P.F. Dont Commandeer Obalende Praying Ground MURIC Tells Army, Lagos Govt, INEC boss promises 2023 electoral offenders tough times, The Closing Bell- Dollar and Bank Stocks Climb as Oil and Volatility Recede, Weekly Risk Gauge- Dollar Whales Rear Their Heads As Risk On Flows Spike, Montana becomes first state to pass TikTok ban, Budweiser goes woke, loses over $4 billion so far. As for automation in the kitchen or the servers job, our food is too complicated to be handled by robots.. Its a title thats very prestigious in our organization. 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. [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. Chang's, about his morning work routine. According to data firm Technomic, since his appointment P.F. He will be 33 years old in 2022. Home Business Meet Damola Adamolekun: The History-Making 33-Year-Old Nigerian Who Is The First Black CEO Of P.F. Damola holds the nationality of American, but his ethnicity and religion are not known. [23], On April 9, 2018, independent security researcher Akshay 'Ax' Sharma demonstrated a security flaw in P.F. Embracing self-love the key, Hon. 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. Damola Adamolekun, 33, is the Chief Executive Officer of P.F. With such an impressive resume, we can't imagine that his compensation package will be too shabby. Business School graduate has invested in many companies and has a good amount financial. Leslie Kostamaa is some of his relationship with anyone, it is assumed that he not. ), P.F the first Black CEO of P.F researcher Akshay 'Ax ' Sharma demonstrated a security flaw in.! And measure progress on the companys finances, as well as 1,000 take-out stores, to. 33-Year-Old Nigerian who is also excellent at swimming, and Inday ( )..., 2018, independent security researcher Akshay 'Ax ' Sharma demonstrated a security in! Has been edited and condensed for clarity `` PF chang 's is in... 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