Women of Power Summit P. F. Chang's China Bistro is an American-based, casual dining restaurant chain founded in 1993 by Paul Fleming and Philip Chiang that serves Asian fusion cuisine. 17802 Hillside Ave, Suite 410, Jamaica, New York 11432 | (732) 982-7744. In the same school, Damola had served as Co-portfolio manager for the HBS investment club. The history maker used to be a server in his high school days. Damola has played the lead role in the subsequent sourcing management of many firms largest investments. Adamolekun earned his bachelor's degree in economics from Brown University and his MBA from Harvard Business School. He has invested in many companies and has a good amount of financial stake in them. These early morning meetings are informal in nature and reflect a very comfortable "open-door" ethos that exists within our senior executive team, which I love. The average hourly rate is $11.30, which Indeed says is on par with similar restaurant chains. He spends an hour working from home each day before heading to the office for in-person meetings. BLACK ENTERPRISE is the premier business, investing, and wealth-building resource for African Americans. My job is not to be making food. Ans) Damola holds the nationality of American. CEO of PF Chang, Damola Adamolekun, according to Wikipedia. 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. 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. Damola Adamolekun is CEO of P.F. 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. Q2) What is the age of Damola Adamolekun? divId: 'div-gpt-ad-rightrail-2', The closure of businesses deemed "nonessential" owing to the COVID-19 pandemic had devastated the restaurant industry in the United States and abroad. He also initiated the inclusion of delivery and to-go orders which was viewed as unfitting to the brand before. pos: 'right_rail_3', Summary. Chang's for $1.1 Billion", "Iconic Asian restaurant chain P.F. One of Americas most popular restaurant chains has appointed African immigrant Damola Adamolekun as its Chief Executive Officer. 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. Chang's CEO on worker shortages amid labor slump: 'Still understaffed in some locations', "P.F. Chang's Rewards program which enabled leakage of members' information, due to a poorly implemented API.[24]. Mr. Adamolekun serves on the Board of Directors for International Tower Hill Mines (NYSE: THM), P.F. In this conversation, alongside the National Restaurant Association's celebration of Black History Month, we celebrate Damola's efforts . As for automation in the kitchen or the servers job, our food is too complicated to be handled by robots. Did some of this training include you just rolling up your sleeves and preparing food in the kitchen? Chang's To Go open at River City Marketplace". Damola Adamolekun was born in 1990 in Scottsdale, Arizona, United States of America. He spends an hour working from home each day before heading to the office for in-person meetings. Ive actually never eaten at P.F. We'll assume you're ok with this, but you can opt-out if you wish. aid: '794590', True enough, the business survived even when the pandemic hit. [23], On April 9, 2018, independent security researcher Akshay 'Ax' Sharma demonstrated a security flaw in P.F. According to data firm Technomic, since his appointment P.F. We need to be consistent across the fleet, so you shouldnt visit P.F. Have there been any notable culinary misfires as youve updated the 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); Chang's is opening its first location in China as an 'American bistro', "P.F. Edit Jobs Section. Weve got a wagyu steak dish coming, so keep your eyes and your nose open. Meet Damola Adamolekun, 33-year-old Nigerian leading US restaurant chain. 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. 2023 THE QUINTESSENTIAL GENTLEMAN | CRAFTED BYCORRICA. I dont think theres anything in this world that cant be learned if youre smart, motivated, and willing to spend time. Changsrevenue rose 32%to $922 million last year. Q4) What is the Nationality of Damola Adamolekun? Chang's, about his morning work routine. [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. I've read almost every novel written by Chinua Achebe, Jeffrey Archer and Dan Brown. See the Schedule, Movies Selected & More + Angelique Kidjo announced as Festival Ambassador, Hon. 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. Everything You Need To Know. Chang, one of the high repute largest upscale-dining Asian restaurant brands in the United States. Under his leadership, the brand has embraced several changes to improve customer experience including revamping the dining rooms, revising the menu items as well as powering the inclusion of delivery and to-go orders which was seen as not fitting with the brand in times past. FORTUNE may receive compensation for some links to products and services on this website. What piqued my interest was the company itself. 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. Technology helps, for sure. [21], The chain specializes in Asian fusion cuisine. Changs for $700 million from private-equity firm Centerbridge Partners, Restaurant Business Online reports. We have tablets for paying at the table, which allows our servers to run around a little less. But since there is no sign of his relationship with anyone, it is assumed that he has not yet exchanged vows. He is 32 years old now. Chang's employees. Prior to joining Paulson, Mr. Adamolekun worked in the Investment Banking Division of Goldman Sachs since 2011 and as a Private Equity . While that is not a lot compared to other CEOs, it's significantly greater than other P.F. Chang's, one of the largest and most famous restaurant chains across the globe. Required fields are marked *. He's been leading the company since 2020. Save my name, email, and website in this browser for the next time I comment. The lighting was too bright. For Adamolekun, being back in the restaurant industry is a full-circle moment. kw: 'mandc,black-ceos,newsletter-2,restaurant-business,restaurant-chains,restaurant-industry', Then came COVID, which was a catalyst for delivery and takeout. Are you ready to embrace equity and empower yourself and Duchess of the Month: Dr. Mrs. Misitura Lawal-Arowona:, Nigerian-American Girl Makes History as First Black Valedictorian, Asisat Oshoala Leads Barcelona to Womens Champions League, Pastor Mrs. Folu Adeboye Receives Global Recognition for, FASHION FOCUS: Ibiyemi Alabi The Brain Behind, Laws That Protect Rape Victims And Hold Rapists, Abolaji Odunuga: Duchess International Magazine Aims to Bring, Model Leomie Anderson On Using Her Platform To, Yemisi Adeogun, First female president of Guild of, Adedayo Aderibigbe: From Educator to Advocate of African, From Pediatrician to Political Leader: The Inspiring Journey, Grab this opportunity to Create the Change You, Are you ready to embrace equity and empower, Welcome to February! Turned out Adamolekun was the CEO the chain needed. But we saw it as a huge opportunity. Subscribe to Newsletter Perfect day. tude.refreshAdsViaDivMappings([ { tag: 'mandc,black-ceos,newsletter-2,restaurant-business,restaurant-chains,restaurant-industry', Damola Adamolekun made history when he became P.F. Your prior hands-on restaurant experience was limited. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. Its a title thats very prestigious in our organization. Stay up to date with what you want to know. 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. aid: '794590', Changs? This site uses Akismet to reduce spam. What dish do you recommend? This interview has been edited and condensed for clarity. About ET, Washington Post . These improvements have indeed rubbed off on the companys finances, as P.F. Copyright 2020 - All Right Reserved. 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. 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. Changs To Go[18] take-out only location will be in Chicago, Illinois. Aside from the horse statue that sits outside many of its restaurants, P.F. Damola Adamolekun is the CEO of P.F. tude.refreshAdsViaDivMappings([ { There were a lot of things on the menu that didnt belong, says the Harvard Business School graduate. Changs. He was born in 1990 in Scottsdale, Arizona, United States. Damola Adamolekun, 33, is the Chief Executive Officer of P.F. Meet Emily Avonya Jefferson: From almost dying due to severe reaction to seasonings as a teen to inking a deal for her own low sodium brand! Chang's Confirms Credit Card Breach", "P.F. Changs operates 300 locations in 22 countries[9] and U.S. airports,[10] including 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 . P.F. Sign up for notifications from Insider! Business-centric with wings spread via partnership with different companies where he owns major share including Paulson & Co the investment group that joined forces with TriArtisan Capital Advisors to buy P.F. Chang's. He's one of America's youngest and most dynamic CEOs.. Chang's CEO make? This story was originally published on Insider July 12, 2022. Chang's China Bistro, Inc. was formed from the acquisition of the original four bistro restaurants. Next, I check my inbox. [16][17], In January 2020, Changs announced its first P.F. Changs, what did you see that you thought you could improve? He is 32 years old now. Is that just marketing? cat: 'leadership', Meet Damola Adamolekun, the CEO of P.F. Damola Adamolekun sharing what makes P.F. So, a lot of people shifted to off-premise delivery ordering, they started using QR code menus, maybe they wouldnt have done that before the pandemicThis sort of digital orientation that increased during the pandemic, out of necessity, weve seen that hold even as people come back into the restaurants, Adamolekun said in an interview with The Washington Post. 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. pos: 'right_rail_1', tag: 'mandc,black-ceos,newsletter-2,restaurant-business,restaurant-chains,restaurant-industry', Ans) Damola was born in 1990 in Scottsdale, Arizona, United States of America. It was a poorly run one with a lot to fix. Changs China Bistro, a popular Asian casual-dining restaurant chain based in the U.S. What Illness Does She Have? Damola works with Paulson & Company as a partner in his other enterprises, and also served on the board of directors for International Tower Hill Miness LLC. This week, Karly speaks with P.F. Chang's employee ranges from $16,000 for a dishwasher to $30,000 for a food runner. Sign up for theFortune Features email list so you dont miss our biggest features, exclusive interviews, and investigations. url: '33,year,old,is,making,history,as,the,first,black,ceo,of,p,f,changs', Terms & Conditions. "P.F. Even though the brand is still strong, he believed that it is necessary to embrace change to adapt to the uncertain future. Damola Adamolekun Expand search. At just 31, Damola Adamolekun became the CEO of the famous restaurant chain P.F. 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. Changs, and there are favorites that people come for, like the lettuce wraps, Mongolian beef, spicy chicken, and so on. We have a guest reservation system that makes their jobs a lot easier. Everything You Need To Know. Its not rocket science at the end of the day; its something to learn, but its learnable. I didnt plan to operate the business when I did the deal. Damola Adamolekun made history when he became P.F. Chang's and based in Scottsdale, Arizona. Chang's has changed everything from its technology to operating about a dozen of the small-footprint, fast-casual-type locations around the country. Always exciting to help with a Ribbon Cutting and a Grand Opening Event for a new business. } Changs headquarters) to help. Changs. Adamolekun, who became the first black CEO of the restaurant in 2020, led the restaurant through a difficult period during the heat of the COVID-19 pandemic. Contribute to Finurah today and help us share our narratives. Changs CEO, Damola worked on revamping the dining rooms and revising the menu items. Top editors give you the stories you want delivered right to your inbox each weekday. The things that [customers] have learned during the pandemic, they havent forgotten. My job isnt making food, he said. He starts the day with an early-morning workout and commutes 20 minutes to his office. More recent changes include a subscription program to stoke loyalty and an upcoming flagship in New York City, P.F. Get Mii Mii's email address (m*****@pfchangs.com) and phone number at RocketReach. Damola Adamolekun is an experienced vice president at Paulson & Company. Chang's China Bistro, a popular Asian casual-dining restaurant chain based in the U.S. The problem is fundamentally a reduction in the labor participation rate because we lost 2.5 million people from the workforce. 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. Angelique Kidjo announced as Festival Ambassador, Hon see that you thought you could improve locations ', True,... The next time i comment keep your eyes and your nose open 2.5. Table, which allows our servers to run around a little less include. 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