IRVING, Texas--(BUSINESS WIRE)--CEC Entertainment, Inc. (“CEC” or the “Company”), which operates 577 Chuck E. Cheese’s stores, today announced that Michael H. Magusiak, President and Chief Executive Officer, intends to retire from the Company, effective June 2, 2014. The CEC Board of Directors has initiated a search process to identify a new Chief Executive Officer, which will include a full review of both internal and external candidates.
“Thanks to Mike and the entire CEC team, the Chuck E. Cheese’s brand has become synonymous with high-quality, fun and safe family entertainment and is well-positioned for continued growth and evolution,” said Scott Ross, Director of the CEC Board and Partner at Apollo Global Management. “On behalf of the Board and everyone at CEC, I want to thank Mike for his leadership and many contributions to the Company. The Board appreciates Mike’s ongoing support and we wish him all the best in the future.”
Mr. Magusiak stated, “I am very grateful and appreciative to have been a member of the Chuck E. Cheese’s team for almost 27 years. I am extremely confident in both the future of Chuck E. Cheese’s and in the outstanding people we have throughout our organization. Our greatest asset is our people, and I have been fortunate to have worked with quality and dedicated individuals with the highest level of integrity. I wish the very best for the entire CEC team as they work to continue to grow the Chuck E. Cheese’s brand in the U.S. and around the world with the support of our partner, Apollo.”
About CEC Entertainment, Inc.:
For more than 30 years, CEC Entertainment, Inc. has served as the nationally recognized leader in family dining and entertainment and the place Where a Kid can be a Kid®. The Company and its franchisees operate a system of 577 Chuck E. Cheese’s stores located in 47 states and 10 foreign countries or territories. Currently, 522 locations in the United States and Canada are owned and operated by the company. CEC Entertainment, Inc. and its franchisees have the common goal of creating lifelong memories for families through fun, food and play. Each Chuck E. Cheese’s features musical and comic robotic entertainment, games, rides and play areas, as well as a variety of dining options including pizza, sandwiches, wings, appetizers, a salad bar and desserts. Committed to providing a fun, safe environment, Chuck E. Cheese’s helps protect families through industry-leading programs such as Kid Check®.
Chuck E. Cheese’s aims to promote positive, lifelong memories inside and outside of its stores. In addition to providing a fun entertainment experience for millions of families across the world, Chuck E. Cheese’s has donated more than $10 million to schools through its fundraising programs. For more information, see the company’s website at www.chuckecheese.com or connect with them on Facebook, Twitter, Pinterest, YouTube and foursquare.