- Push-out Score determined
- After about three years in the position
- Praise, thanks and good wishes for Jenkins
- Kevin Sheehan taking over temporarily
- Search for a successor
- Jenkins said 63 words
(exechange) — Dallas, Texas, September 21, 2021 — Brian Jenkins, chief executive of Dave & Buster’s, leaves — as “mutually agreed.” As announced by Dave & Buster’s Entertainment Inc. in a news release and in a regulatory filing published on Tuesday, September 21, 2021, Brian A. Jenkins leaves his post as chief executive officer at the operator of entertainment and dining venues, after about three years in the role, effective September 30, 2021.
Dave & Buster’s will undertake a search for a successor.
Brian Jenkins’s duties as CEO will be taken over temporarily by Kevin M. Sheehan, currently Chair of the Board at Dave & Buster’s Entertainment Inc., as Interim Chief Executive Officer.
“A good time to initiate this transition”
Brian Jenkins’s departure from the CEO post is explained as follows. Sheehan said: “Brian successfully led the Company through the pandemic, and back to record-setting financial performance, while concurrently re-establishing a strong balance sheet. With those objectives achieved, Brian and the Board felt this was a good time to initiate this transition.”
Precise information regarding Brian Jenkins’s future plans was not immediately available.
“Retiring/separate and transition/cease to serve”
Dave & Buster’s said: “Dave & Buster’s Entertainment, Inc., (NASDAQ:PLAY), (“Dave & Buster’s” or “the Company”), an owner and operator of entertainment and dining venues, today announced that, following its recently announced record quarterly revenue and profit performance, Brian A. Jenkins will be retiring from his service as Chief Executive Officer of the Company and a member of its Board of Directors.”
Dave & Buster’s further said: “On September 21, 2021, Dave & Buster’s Entertainment, Inc. (the “Company”) and Brian A. Jenkins, the Company’s Chief Executive Officer (“CEO”), mutually agreed to terms pursuant to which Mr. Jenkins will separate and transition from the Company. Mr. Jenkins will cease to serve as CEO and Director on September 30, 2021.”
“Not the result of any dispute or disagreement”
“Mr. Jenkins’ departure is not the result of any dispute or disagreement with the Company, its Board, or its management, or any matter relating to the Company’s operations, policies or practices,” Dave & Buster’s said.
Share price decline since August 2018
The announcement follows a decline in Dave & Buster’s Entertainment Inc.’s share price of 26% since August 2018. August 2018 is the month in which Jenkins’s tenure as CEO began.
In the position of CEO since 2018
Brian Jenkins became CEO of the Company in 2018.
By mutual agreement with the Company’s Board, Jenkins will continue to serve as CEO and a Board director through September 30, 2021.
To ensure a seamless transition of responsibilities, he will become a Senior Advisor to the CEO until November 30, 2021.
Brian A. Jenkins has served as the Company’s Chief Executive Officer since August 2018.
From December 2006 until August 2018, he served as the Company’s Senior Vice President and Chief Financial Officer.
From August 1996 until August 2006, he served in various capacities (most recently as Senior Vice President—Finance) at Six Flags, Inc., an amusement park operator.
From March 1990 to August 1996, Jenkins served in various financial positions (most recently as Vice President of Corporate Planning and Business Development) with Foxmeyer Health Corporation, a wholesale pharmaceutical distributor.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Brian Jenkins’s move on a scale of 0 to 10.
exechange reached out to Dave & Buster’s and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 39.2021 ($).