Red Lobster has named Jonathan Tibus CEO as current chief executive Horace Dawson announced his retirement, the Orlando Business Journal reported.
Tibus has been managing director of management consulting firm Alvarez Marsal in Atlanta for the past 22 years.
He is a restructuring expert, having been named CEO of Kona Grill in 2019 as it filed for Chapter 11 bankruptcy protection.
He also was Krystal’s chief restructuring officer when it filed for Chapter 11 protection in 2020.
He held the same position at Quiznos when it declared bankruptcy in 2014.
Red Lobster did not respond to enquiries about the management change, but the casual-dining concept has been struggling for years, exacerbated by an all-you-can-eat shrimp promotion that resulted in heavy losses last year. Its current majority owner, seafood supplier Thai Union, has been looking to sell the chain for months and has said it won’t provide any more financial support for it.
Dawson had been Red Lobster’s executive vice president and general counsel until he was named CEO in September, filling a position that had been vacant since Kelli Valade had stepped down in April of 2022 after having served for just eight months.
Contact Bret Thorn at [email protected]