Entertainment

Former Chuck E. Cheese executive takes over as Dave & Busters CFO

Diving brief:

Dave & Buster's Entertainment named Darin Harper, finance veteran to become its new financial director, the restaurant and entertainment chain announced Thursday.
Effective June 17, Harper will replace Dave & Buster's current CFO, Michael Quartieri, who is retiring. Harper's long career in corporate finance includes stints at family entertainment brand Main Event Entertainment, now owned by Dave & Buster's; Mexican food chain On The Border; and CEC Entertainment, parent of Chuck E. Cheese.
Darin was the obvious choice after an extensive nationwide search for our next CFO, said Chris Morris, CEO of Dave & Busters, in a press release. He is an exceptional financial leader and having had the pleasure of working alongside him at various points in my career, I am extremely confident that he is the ideal person to lead our company's finance team to new heights.

Dive overview:

The transition comes as Dallas, Texas-based Dave & Buster's grapples with sagging sales. THE company's net profit for the fourth quarter of 2023 totaled $36.2 million, up from $39.1 million year-over-year, according to results released earlier this month.

The change in financial leadership also comes as the company continues its growth initiatives, including an overhaul of the dining experience and improvements to data capabilities, as previously stated by CFO Dive's sister publication, Restaurant Dive.

Dave & Buster's is an iconic brand and the leader in large-scale out-of-home entertainment, with plenty of room for growth, Harper said in a news release Thursday. The company's strategic plan has enormous potential for tangible improvement that I am eager to realize and have made an easy decision to accept this opportunity.

Harper, 49, will receive an initial annual base salary of $475,000 and will be eligible for an annual bonus set at 80% of base salary at the target level, according to a report. Filing with the Securities and Exchange Commission by Dave & Buster.

From May 2023Harper served as chief financial officer of World Choice Investments, which operates themed family entertainment attractions, according to the filing.

Prior to that, he served as CFO of Main Event, acquired in 2022 by Dave & Busters in a $835 million dealHe also served as Chief Financial Officer of On The Borders, as well as Chief Accounting Officer of CEC Entertainment.

Sources

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2/ https://www.cfodive.com/news/chuck-e-cheese-dave-busters-cfo-compensation/714343/

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