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Business Chuck E. Cheese parent CEO to retire in June

Chuck E. Cheese parent CEO to retire in June

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Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

IRVING, Texas (AP) — CEC Entertainment Inc. says that Michael H. Magusiak plans to retire in June as president and CEO of the parent of the Chuck E. Cheese restaurant chain.

CEC said Friday that its board has started a search for a new CEO and will consider candidates from inside and outside the company.

CEC agreed to be taken private by Apollo Global Management for about $950 million in January. The deal closed last month.

Magusiak’s retirement is effective on June 2.

Founded in 1977, Chuck E. Cheese restaurants are known for their mix of games, play areas and robotic characters that provide musical entertainment. The chain has been struggling to lift sales, even after a makeover for its rodent mascot in 2012 that was intended to refresh its image.

 

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