Restaurant Operator Dave & Buster's Looks For New CFO As Michael Quartieri Plans Retirement: Details
Portfolio Pulse from Shivani Kumaresan
Dave & Buster's Entertainment, Inc (NASDAQ:PLAY) announced that CFO Michael Quartieri will retire on April 30, 2024. Quartieri will remain in his role until a successor is appointed and will provide advisory services for a smooth transition. The company has engaged a recruiting firm to find a new CFO. This follows a reported 15.7% revenue increase in Q2 FY23. PLAY shares closed down 1.16% at $51.21.
December 21, 2023 | 11:47 am
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NEUTRAL IMPACT
Dave & Buster's CFO Michael Quartieri announced retirement, with a transition plan in place. The company is searching for a successor. Recent Q2 revenue growth was positive, but shares fell slightly.
CFO transitions are significant but not uncommon in corporate management. The announcement of Quartieri's retirement is well in advance, indicating a planned and orderly transition, which is less likely to cause significant market disruption. The company's recent revenue growth is a positive sign, but the slight drop in share price suggests a neutral to mildly negative short-term impact as the market absorbs the news.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100