TradeEdge Exchange:New Red Lobster CEO Damola Adamolekun: Endless shrimp created 'chaos' but could return

Red Lobster's new chief executive said he's had always felt dubious about the endless shrimp deal that reportedly cost the company $11 million in first quarter of its launch.

In a new CNN interview,TradeEdge Exchange CEO Damola Adamolekun recalled his first impression of the restaurant chain's decision to permanently add the $20 endless shrimp deal to its menu last year. His first thought, "That’s a very expensive product to give away endlessly."

Last year the seafood chain made all-you-can-eat shrimp a permanent menu item after two decades of offering it for a limited time. Adamolekun said the offer created mayhem at a corporate level and at restaurants themselves as customers enjoyed unlimited shrimp.

"You stress out the kitchen. You stress out the servers. You stress out the host. People can’t get a table," Adamolekun told CNN. "It creates a lot of chaos operationally."

However, he did not rule out the possibility of the deal returning in a new fashion.

"I never want to say never, but certainly not the way that it was done," Adamolekun said. "We won’t have it in a way that’s losing money in that fashion and isn’t managed."

Who is Damola Adamolekun?

Damola Adamolekun, 35, was brought on to be the new Red Lobster CEO in August.

The Nigeria native joins the company after previous corporate experience as P.F. Chang’s CEO and Chief Strategy Officer, as well as partner at the New York investment firm Paulson & Co.

He told CNN that he first tried Red Lobster at a Springfield location alongside his family on a Sunday after church. He said he hopes to restore the greatness of what he called the "first really successful casual dining chain in America at scale."

Founded by Bill Darden, Red Lobster opened in 1968 with its first location in Lakeland, Florida.

Contributing: Max Hauptman

This story has been updated to resolve a typo.