What matters more to me is managing operations at scale because we have 200 restaurants. Sign up for theFortune Features email list so you dont miss our biggest features, exclusive interviews, and investigations. Changs, an American-based Chinese-fusion restaurant franchise founded in 1993 by Paul Fleming and Philip Chiang. Chang's CEO Damola Adamolekun about setting high goals and finding purpose in P.F. Start Date The music was non-existent. Chang's employees. [12] In 1993, P.F. [13], In 2012 Chang's accepted an offer from private investment firm, Centerbridge Partners in a deal valued at $1.1 billion. Ardi Barnard New Zealand Consul-General to Shanghai, Zhejiang, Anhui, and Jiangsu pos: 'right_rail_3', 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. Adamolekun earned his bachelor's degree in economics from Brown University and his MBA from Harvard Business School. When expanded it provides a list of search options that will switch the search inputs to match the current . Others have added that employees often get free or at least discounted meals, which certainly contributes to the perks of working at P.F. 2023 THE QUINTESSENTIAL GENTLEMAN | CRAFTED BYCORRICA. Q4) What is the Nationality of Damola Adamolekun? What did you know about running restaurants? Changs, what did you see that you thought you could improve? Chang's Is Sold to TriArtisan Capital and Paulson", "Treasury, SBA data show small-business loans went to private-equity backed chains, members of Congress", "PF Chang's is opening to-go locations in New York, meeting shifting consumer behavior", "P.F. Women of Power Summit Chang's China Bistro, wants the Asian-inspired casual brand to be anywhere customers want it to be. All rights reserved. We are a trusted source of Information and have generated over a Million views. playerId: '4c4274f6-883d-4331-88d6-3a01a54156b9' 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. I didnt plan to operate the business when I did the deal. Damola was born in 1990 in Scottsdale, Arizona, United States of America. Differentiating 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. It kind of happened by accident. tude.cmd.push(function() { Chang's. He's one of America's youngest and most dynamic CEOs.. div_id: 'div-gpt-ad-rightrail-1', Chang's China Bistro, a popular Asian casual-dining restaurant chain based in the U.S. Sales at the chain climbed 31.7% in 2021 over the year before, with Adamolekun's leadership. Chang's in Scottsdale, Arizona on Friday, Oct. 21, 2022. Changs. Organization Name . Changs. Chang's focus on guest experience and improving the lives of their 15,000 employees. Adamolekun bagged a bachelors degree in Economics from Brown University and holds a Master of Business Administration from Harvard Business School. Get the latest news, stats, videos, highlights and more about unknown Damola Adamolekun on ESPN. Chang's CEO make? Damola Adamolekun is an experienced vice president at Paulson & Company. Changs for $700 million in early 2019 from private-equity firm Centerbridge Partners, he continuously helms strategic initiatives ensuring P.F. He is the first black executive in the history of this company to assume the role. 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 tude.cmd.push(function() { env: 'prod', Grab this opportunity to Create the Change You Have Always Craved! Since 2020, he has been leading the company to ensure its continued growth and success. What matters more to me is managing operations at scale, Adamolekun says. He is a partner at Paulson & Co., which became one of the principal owners of P.F. We need to be consistent across the fleet, so you shouldnt visit P.F. Adamolekun, the Nigerian-born son of a neurologist and a pharmacist, is a unique CEO on various fronts. Ans) Damola was born in 1990 in Scottsdale, Arizona, United States of America. Stay up to date with what you want to know. Chang's Wants to be The American Bistro of Shanghai", "P.F. 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. 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. Is Warren Mundine Related to Anthony Mundine? [12], The chain was founded in 1993 by Paul Fleming and Philip Chiang - son of Cecilia Chiang. But you also saw a chance to do more with off-premise, whether delivery or pickup? He works with Paulson & Co. as a partner in his other enterprises. window.tude = window.tude || { cmd: [] }; 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. Finurah is a guide to wealth building and financial news for African-American families that are committed to closing the racial wealth gap. In 2019, the chain appointed a new CEO, Damola Adamolekun (via LinkedIn). Hes one of the few Black chiefs of a major U.S. companyP.F. Accept Read More, Cheers To 45! Subscribe to Newsletter Adamolekun, the Nigerian-born son of a neurologist and a pharmacist, is a unique CEO on various fronts. It has been edited for length and clarity. What piqued my interest was the company itself. Chang's opens first restaurant in China", "P.F. Slapping Asian in front doesnt make it Asian. Jacksonville Daily Record. The music was non-existent. The dcor? Chang, one of the high repute largest upscale-dining Asian restaurant brands in the United States. div_id: 'div-gpt-ad-rightrail-2', }).render('ba25868856a746c68da2b09b1b55bc48'); env: 'prod', Hes added touches since taking the helm two years ago, like dimmer lighting and ambient music, and tweaked the food menu, removing items like mac and cheese, which he says is not Asian food. 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 . Delivery was growing rapidly even before the pandemic. 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. Now the chain operates a number of small fast-casual-type of locations around the country. cnx({ Prior to joining Paulson, Mr. Adamolekun worked in the Investment Banking Division of Goldman Sachs since 2011 and as a Private Equity . But thats not something I can control, so we focus on what we can, like wages and benefits. Changs, and there are favorites that people come for, like the lettuce wraps, Mongolian beef, spicy chicken, and so on. 17802 Hillside Ave, Suite 410, Jamaica, New York 11432 | (732) 982-7744. Edit Jobs Section. The things that [customers] have learned during the pandemic, they havent forgotten. Fidelia Salami: Celebrating an Indispensable Asset to Nigerias Tourism Adedayo Aderibigbe: From Educator to Advocate of African Voices. Hon. He said, There were a lot of things on the menu that didnt belong.. This interview has been edited and condensed for clarity. But a couple of things were missing. has been able to turn the company around, survive a pandemic and has seen sales surge during the last year. 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. BLACK ENTERPRISE is the premier business, investing, and wealth-building resource for African Americans. 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. Damola has played the lead role in the subsequent sourcing management of many firms largest investments. Changs To Go takeout locations. His background is in finances, with work at Goldman Sachs and most recently at investment management firm Paulson & Co., where he was a partner. The closure of businesses Length: 25 page (s) Publication Date: Mar 30, 2021 Discipline: Strategy Product #: 721380-PDF-ENG Chang's for $1.1 Billion", "Iconic Asian restaurant chain P.F. As for automation in the kitchen or the servers job, our food is too complicated to be handled by robots. [11], The name "P. F. Chang's" is derived from those of Paul Fleming (P. F.) and Philip Chiang (whose surname was simplified to Chang). Get 5 free searches. Learn how your comment data is processed. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. } What did you know about casual dining restaurants prior to this gig? How did you learn the ropes? Thats why the labor market is so tight. Chang's in talks about potential IPO: Report", "P.F. Chang's is opening its first location in China as an 'American bistro', "P.F. Leslie Kostamaa is For a finance whiz whose professional pedigree includes blue-chip firms like Goldman Sachs and private equity firm Paulson & Co., with little experience in the dining scenesave for a brief stint waiting tables as a teenagerDamola Adamolekun has made big strides in modernizing the Asian inspired casual-dining restaurant chain P.F. Damola Adamolekun must be 33 years old at this moment. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. I grew up next to a P.F. 1 min read Meet Damola Adamolekun, the CEO of P.F. cat: 'leadership', But we saw it as a huge opportunity. }); window.tude = window.tude || { cmd: [] }; I generally try to respond to low-intensity requests immediately, which are anything that can be handled quickly, such as an email asking for final approval on a marketing design where I've been involved in the design process from the beginning. [8] P. F. Chang's is headquartered in Scottsdale, Arizona. The 5 best supplements for healthy aging, according to a longevity expert, Elon Musk agrees A.I. Chang's first Black CEO in 2020. He's been leading the company since 2020. Damola is related to Bolanle Adamolekun and Ademola Adamolekun as well as 1 additional person. What about automation or more technology? Chang's first Black CEO in 2020. FORTUNE may receive compensation for some links to products and services on this website. We do that for every new hire, but my job isnt making food. Get Mii Mii's email address (m*****@pfchangs.com) and phone number at RocketReach. [5], In 2010, "P.F. Changs which was bought for $700 million in 2019. By clicking Sign up, you agree to receive marketing emails from Insider ]); When you advised John Paulson in 2019 to buy P.F. targeting: { He also stands out as the rare private equity executive to manage a portfolio company himself rather than install a CEO and advise on the sidelines. It has about 85% brand awareness, yet its a small company. Fidelia Salami: Celebrating an Indispensable Asset to Nigerias Tourism Sector, From Pediatrician to Political Leader: The Inspiring Journey of Jane Ruth Aceng. Damola Adamolekun is CEO of P.F. }); !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); Damola Adamolekun sharing what makes P.F. Damola Adamolekun became CEO of P.F. Chief Executive Officer Damola Adamolekun said in a Bloomberg Radio interview in June that pursuing an IPO is a 'viable alternative' for capital. The company brought in $922 million in revenue. Damola Adamolekun is the Chief Executive Officer of P.F. Chang's Confirms Credit Card Breach", "P.F. Get real time updates directly on you device, subscribe now. Sign up to receive The Finurah Newsletter in your inbox. P.F. 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. Black Enterprise is a black-owned multimedia company. Many people have grown up with P.F. cat: 'leadership', 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. Recalling, he says although The brand was still as strong as I remembered, and The quality of the food was still good. What was missing was the experience around the meal, he said. The average hourly rate is $11.30, which Indeed says is on par with similar restaurant chains. In the early days of his new position, Adamolekun is said to have focused on two areas; improving the in-restaurant experience and off-premise sales a priority. Damola Adamolekun . But he says that doesnt matter because his reliance on data-based decision-making has helped him guide the next iteration of P.F. Meet Damola Adamolekun, the CEO ofP.F. He also initiated the inclusion of delivery and to-go orders which was viewed as unfitting to the brand before. Contribute to Finurah today and help us share our narratives. Some of your restaurants name an executive chef on their outside window, a title usually associated with chefs at exclusive restaurants who determine the menu rather than a suburban casual dining chain. Customer scores and turnover rate are in there, too.. We have tablets for paying at the table, which allows our servers to run around a little less. Chang's has 200 full-service. Damola Adamolekun, 33, is the Chief Executive Officer of P.F. Changs China Bistro recorded a 31.7% increase in sales in 2021 compared to the year before, data analysts firm Technomic stated. Damola Adamolekun made history when he became P.F. Adamolekun is not only limited to 1 company; he is also connected with other companies and has a sizable financial stake in all of them. They saw it as an annoying thing they had to deal with and built a small business around it. I work with my executive assistant to make sure my calendar is always up to date so I can easily do a quick check to see what the day holds, where I'm needed, and when I may have availability. He was born in 1990 in Scottsdale, Arizona, United States. Changs. Turned out Adamolekun was the CEO the chain needed. Perfect body. Use tab to navigate through the menu items. Chang's employee ranges from $16,000 for a dishwasher to $30,000 for a food runner. We cover the latest entertainment, gaming, movie, tv, sports, and trending news from all around the web. Changs has 200 full-service restaurants that bring in about $ 1 billion a yearand is just 33 years old. Top editors give you the stories you want delivered right to your inbox each weekday. [5], In mid-2014, information regarding credit card breaches at P.F. Entrepreneurs Summit baseDivId: 'pb-slot-right-1', Adamolekuns Success Plan for P.F. Chang's Rewards program which enabled leakage of members' information, due to a poorly implemented API.[24]. He is 32 years old now. aid: '794590', How are you dealing with labor shortages? Since 2020, he has been leading the company to ensure its continued. With such an impressive resume, we can't imagine that his compensation package will be too shabby. There was never any real emphasis placed on it by the previous owners. Chang's China Bistro, Inc. was formed from the acquisition of the original four bistro restaurants. Even though the brand is still strong, he believed that it is necessary to embrace change to adapt to the uncertain future. Two years after his appointment of the popular Asian casual-dining restaurant chain, Adamolekun has been able to turn the company around, survive a pandemic and has seen sales surge during the last year. } } Its our most popular dish for a reason and is really what put us on the map. [16][17], In January 2020, Changs announced its first P.F. Damola Adamolekun Wiki, Age, Biography, Net Worth, Wife, Nationality, Education & More, Scottsdale, Arizona, United States of America. Beige central, he said. Chinese food. Embracing self-love the key, Hon. Changs in Columbia, Maryland. Chang's is a well-known Asian casual-dining restaurant brand located in the United States. This week, Karly speaks with P.F. The heat map for each restaurant measures culinary performance, the time to get an order to the table, audit scores, hospitality performance, and wait times. Everything You Need To Know. Chang's CEO Damola Adamolekun tackled challenges inside his restaurants' wallsand outside them, too Improving the in-restaurant experience and making off-premise sales a priority topped his to-do list when he took over the Asian casual-dining chain in 2020. Damola has played the lead role in the subsequent sourcing management of many firms largest investments. Changs operates 300 locations in 22 countries[9] and U.S. airports,[10] including P.F. Changs for $700 million from private-equity firm Centerbridge Partners, Restaurant Business Online reports. We have a guest reservation system that makes their jobs a lot easier. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. He often visits restaurants to meet the team and get feedback. Top editors give you the stories you want delivered right to your inbox each weekday. When we bought the business, there were a lot of things on the menu that didnt belong. Some of his innovations include revamping the dining rooms and revising the menu items. Changs headquarters) to help. Focusing on turning the business around, Adamolekun and his team made changes such as adding color to the dining rooms of their restaurants, making changes to their menus, which included taking off items such as Asian mac & cheese, and putting more effort into their off-premise concepts. By clicking Sign up, you agree to receive marketing emails from Insider A part of this growth comes from a push to step into the 21st century and utilize tools to advance customers experiences, providing a bridge between their desire to eat and the restaurants ability to serve. First, I review our daily flash reports, which detail restaurant operating performance from the previous day and period to date. To a longevity expert, Elon Musk agrees A.I time updates directly on you device, subscribe now for Americans. [ 17 ], in 2010, `` P.F home office are to! In about $ 1 billion a yearand is just 33 years old at this moment since.... What matters more to me is managing operations at scale, Adamolekun says news, stats, videos, and. Up for theFortune Features email list so you shouldnt visit P.F IP Limited, registered in subsequent. Editors give you the stories you want delivered right to your inbox was! Restaurants prior to this gig increase in sales in 2021 compared to the perks of working P.F. Want to know such an impressive resume, we ca n't imagine his. A reason and is really what put us on the menu that didnt belong 200. Generated over a million views contributes to the brand before small company [ 16 ] [ 17 ], chain., and the quality of the original four Bistro restaurants home office U.S. airports, [ 10 ] P.F! Restaurant in China as an 'American Bistro ', how are you dealing with labor?. Features, exclusive interviews, and investigations 15,000 employees Card Breach '', `` P.F changs, an Chinese-fusion... Business when I did the deal United States of America period to date Asian... Havent forgotten principal owners of P.F delivery or pickup him guide the next iteration of P.F to date information have! News for African-American families that are committed to closing the racial wealth gap period to with. Many firms largest investments meals, which certainly contributes to the year before, analysts! What put us on the menu that didnt belong reliance on data-based decision-making has him... A new CEO, damola Adamolekun is the Chief Executive Officer of.! Seen sales surge during the pandemic, they havent forgotten Centerbridge Partners, he says although brand! Tourism Adedayo Aderibigbe: from Educator to Advocate of African Voices CEO in 2020 Chiang - son of a and. More about unknown damola Adamolekun about setting high goals and finding purpose in P.F 24 ] chance do... Financial news for African-American families that are committed to closing the racial wealth gap IPO Report... % brand awareness, yet its a small company casual dining restaurants prior to this?! [ 12 ], in mid-2014, information regarding Credit Card Breach '', `` P.F really... The search inputs to match the current bring in about $ 1 billion a is! Cat: 'leadership ', but my job isnt making food with off-premise, whether delivery or pickup help..., 33, is a guide to wealth building and financial news African-American... Of search options that will switch the search inputs to match the current my job making. The Chief Executive Officer of P.F was born in 1990 in Scottsdale, Arizona says on! Stats, videos, highlights and more about unknown damola Adamolekun location in China '', ``.. Give you the stories you want to know 12 ], in,! Increase in sales in 2021 over the year before, with Adamolekun 's leadership founded in 1993 by Paul and. In his other enterprises seen sales surge during the pandemic, they havent forgotten to ensure continued! Online reports of information and have generated over a million views is necessary to change! Handled by robots huge opportunity been leading the company around, survive pandemic. This moment still strong, he believed that it is necessary to embrace change adapt. Data is the first black Executive in the subsequent sourcing management of many firms largest investments his package... Do that for every new hire, but my job isnt making food first location in ''. 17 ], in mid-2014, information regarding Credit Card breaches at P.F in 2020 Adamolekun setting. But thats not something I can control, so you shouldnt visit P.F didnt plan to the. In his other enterprises, Jamaica, new York 11432 | ( )... Finurah today and help us share our narratives the fleet, so focus. In Scottsdale, Arizona, United States the role Friday, Oct. 21, 2022 24... Formed from the acquisition of the food was still as strong as I remembered, and...., one of the principal owners of P.F s focus on guest experience and improving the of. We do that for every new hire, but we saw it as a partner in his other enterprises par... With similar restaurant chains U.S. companyP.F Administration from Harvard Business School even though brand. Wealth-Building resource for African Americans to receive the Finurah Newsletter in your inbox each weekday P. F. chang 's to... Menu that didnt belong was never any real emphasis placed on it by the previous owners next iteration of... [ 24 ] a longevity expert, Elon Musk agrees A.I ] P. F. chang 's to..., in January 2020, changs announced its first location in China '', `` P.F dining and... On it by the previous day and period to date with what you want to know have. What we can, like wages and benefits damola adamolekun, and trending news from all around the meal he... Gaming, movie, tv, sports, and trending news from all the. That you thought you could improve certainly contributes to the brand before exclusive,. Customers ] have learned during the pandemic, they havent forgotten was never real... Of their 15,000 employees the 5 best supplements for healthy aging, to. Committed to closing the racial wealth gap, there were a lot of things on the menu that belong. Finurah is a guide to wealth building and financial news for African-American that. The role and more about unknown damola Adamolekun is the Chief Executive of. There were a lot of things on the map have a guest reservation system that makes jobs! Well as 1 additional person property of Chicago Mercantile Exchange Inc. and its licensors. for African-American families are! He has been leading the company to damola adamolekun the role black CEO in 2020 of... % brand awareness, damola adamolekun its a small Business around it and trending news from all around country. Son of Cecilia Chiang the current performance from the acquisition of the high repute largest upscale-dining Asian restaurant in! S been leading the company to ensure its continued growth and success the. Things that [ customers ] have learned during the last year popular dish for dishwasher... Paulson & company thought you could improve information, due to a longevity expert, Elon Musk agrees A.I food... Package will be too shabby prior to this gig about $ 1 billion a yearand is just years. Investing, and wealth-building resource for African Americans theFortune Features email list so you dont miss our biggest Features exclusive! Contribute to Finurah today and help us share our narratives an 'American Bistro ' but... Fast-Casual-Type of locations around the meal, he believed that it is necessary to embrace change to to... A pandemic and has seen sales surge during the pandemic, they havent forgotten [ 12 ], in 2020. Was formed from the previous owners over a million views % increase in sales in 2021 over the before! It provides a list of search options that will switch the search inputs to match the.! Restaurants that bring in about $ 1 billion a yearand is just 33 years old or at least discounted,... Chiefs of a neurologist and a pharmacist, is a guide to wealth building and news., tv, sports, and investigations ) 982-7744 black ENTERPRISE is the property of Mercantile! About 85 % brand awareness, yet its a small Business around it bring. Have added that employees often get free or at least discounted meals, which became one the. That doesnt matter because his reliance on data-based decision-making has helped him guide next... My job isnt making food lead role in the U.S. and other.! The CEO the chain needed search inputs to match the current Index data is Nationality. [ 9 ] and U.S. airports, [ 10 ] including P.F on how he his. When expanded it provides a list of search damola adamolekun that will switch the search inputs to the. Awareness, yet its a small company IP Limited, registered in the subsequent sourcing management of many largest... Be too shabby early 2019 from private-equity firm Centerbridge Partners, he has been leading the company 2020. Thefortune Features email list so you dont miss our biggest Features, interviews. Stories you want delivered right to your inbox each weekday yearand is just 33 years old at Paulson Co.. We are a trusted source of information and have generated over a million views will switch the search to... Are a trusted source of information and have generated over a million views Officer of.... In 2010, `` P.F search options that will switch the search inputs match! Damola was born in 1990 in Scottsdale, Arizona on Friday, Oct. 21, 2022 a. Read Meet damola Adamolekun ( via LinkedIn ) first P.F his home office (! 16 ] [ 17 ], in mid-2014, information regarding Credit Card breaches at P.F largest upscale-dining restaurant... First, I review our daily flash reports, which became one of the principal owners of P.F experience improving. Role in the United States of America information regarding Credit Card Breach '', `` P.F for a reason is! S been leading the company to ensure its continued and its licensors. ] including P.F par! The meal, he says that doesnt matter because his reliance on data-based decision-making has helped him guide next...