Dave & Buster’s Entertainment Inc. announced the resignation of CEO Chris Morris ahead of the Dallas-based eatertainment company’s third-quarter earnings results reported on Tuesday. Morris, who has served as CEO of Dave & Buster’s since July 2022, is stepping down “to pursue other interests,” and until his successor is selected, Kevin Sheehan, the company’s current board chair, will serve as interim CEO.
“On behalf of our whole board, I would like to thank Chris for the effort he put into this great company over the past two and a half years and wish him well in his future endeavors,” Sheehan said in a statement. “The board worked closely with Chris to create our company’s strategic direction and has the utmost confidence in this management team and the company’s strategy.”
Morris resigned as Dave & Buster’s reported a 7.7% decline in same-store sales and a 3% decrease in revenue from the same quarter the year prior, as the company has suffered same-store sales-related challenges in most quarters post-pandemic.
“Overall, I am proud of the team’s commitment and dedication to creating memorable experiences for our valued guests each and every day and we are confident our initiatives will lead to growth in same store sales, revenue, and cash flow in the coming quarters for the benefit of our shareholders,” Sheehan said.
The Dave & Buster’s executive board has been working with global executive search firm, Heidrick & Struggles, over the last few months to identify Morris’ successor. The executive board has appointed James Chambers, current director, as vice chair of the board, and director Michael Griffith, as interim lead independent director of the board during this transitionary period.
Dave & Buster’s operates 168 stores in 43 states, Puerto Rico, and Canada.
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