Dive Brief:

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

Dive Insight:

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

The change in finance leadership also comes as the company is pursuing growth initiatives, including a dining experience overhaul and data capability improvements, as previously reported by CFO Dive sister publication Restaurant Dive. 

“Dave & Buster's is an iconic brand and the leader in scaled out-of-home entertainment, with a lot of room for growth,” Harper said in Thursday’s press release. “The Company’s strategic plan presents a tremendous amount of tangible upside that I look forward to achieving and made for an easy decision to accept the opportunity.”

Harper, 49, will receive an initial annual base salary of $475,000 and will be eligible to receive an annual bonus which is set at 80% of base salary at target level, according to a Securities and Exchange Commission filing from Dave & Buster's.

Since May 2023, Harper has served as CFO of World Choice Investments, which operates themed family entertainment attractions, according to the filing.

Prior to that, he served as CFO of Main Event, which was acquired in 2022 by Dave & Buster’s in an $835 million deal. He also previously served as On The Border’s CFO, as well as principal accounting officer of CEC Entertainment.