CEC Entertainment Inc., parent company of Chuck E. Cheese's, today announced that Michael H. Magusiak, president and CEO, will retire effective June 2. According to a news release, the company's board of directors has initiated a search process to identify a new CEO, 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.
Magusiak has 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," he said.