Red Lobster® Announces Resignation of CEO

ORLANDO, Fla., April 4, 2022 /PRNewswire/ -- Red Lobster® CEO Kelli Valade has announced her resignation as Chief Executive Officer, effective April 15. Red Lobster will immediately begin a search for a successor who can lead the company in achieving its vision of being "Where the world goes for seafood, now and for generations."

Valade joined Red Lobster in August 2021. Under her leadership, she has created a new strategic framework and go-forward plan with a focus on the core guest and the need for value, as well as  built out the executive team, adding the newly-created roles of Chief Marketing Officer and Chief Information Officer and recruiting a new Chief Financial Officer.

"Red Lobster is a beloved, iconic brand with a loyal guest following and incredibly smart and talented employees," said Valade. "My job as the brand's leader has been to inspire and develop our people, while also leveraging the brand's strengths and finding ways to build on them for even greater success. We've accomplished a lot in a short period of time, including building a great leadership team that alongside the board will carry the business forward to achieve our vision. I have truly loved my time here at Red Lobster. This was an incredibly difficult, but necessary, decision."

"On behalf of the Board, we thank Kelli for her service and accomplishments during her tenure as CEO, including navigating through the most recent wave of the COVID-19 pandemic. She has helped us assemble a talented and highly capable leadership team to lead us forward. We wish Kelli the very best in the future," said Rittirong Boonmechote, Chairman of the Red Lobster Board of Directors.

Following Valade's departure, Red Lobster's executive team will work closely with the Board of Directors to continue to drive the brand forward and ensure business continuity during the search for a permanent replacement. Paul Kenny, who is a member of Red Lobster's Board, will serve as the liaison between Red Lobster's leadership and the Board during this time of transition.

About Red Lobster Seafood Co.
Red Lobster is the world's largest and most-loved seafood restaurant company, headquartered in Orlando, Fla. With a proud heritage and an even brighter future, Red Lobster is focused on serving the highest quality, freshly prepared seafood that is traceable, sustainable and responsibly-sourced. To learn more about Red Lobster's sourcing standards and where the seafood we serve comes from, please visit www.redlobster.com/seafoodwithstandards. Red Lobster is also proud to be an employer of choice, including in 2022, for the second consecutive year, being named to Forbes magazine's list of America's Best Large Employers. To learn more about Red Lobster, including locations and menu options, please visit http://www.redlobster.com or find us on Facebook, Twitter, Instagram or TikTok.

Contact: Nicole Bott, [email protected]

SOURCE Red Lobster Seafood Co.