Dave & Buster’s Names Former KFC Executive Tarun Lal As New CEO, But Retail’s Not Excited Yet
Synopsis
Lal, who has over 25 years of experience at Yum Brands and was most recently the President of KFC U.S., succeeds Chris Morris, who stepped down in December 2024.
Dave & Buster’s Entertainment (PLAY) said on Tuesday that it has named former Yum Brands (YUM) Tarun Lal as its new chief executive officer and as a member of the board of directors, effective July 14.
Dave & Buster’s shares fell 3.2% during midday trading on Tuesday.
Lal has over 25 years of experience at Yum Brands, where he most recently served as President of KFC U.S. Previously, he held several key leadership roles, including Global COO for KFC and Managing Director for KFC Middle East, Turkey, Africa, India, and Pakistan.
“After a careful and comprehensive search, the Board is thrilled to announce Tarun as our next CEO,” said Kevin Sheehan, chairman of the board and interim CEO.
Chris Morris was the previous CEO of Dave & Buster’s. He tendered his resignation as CEO in December 2024 to pursue other interests, and the company had been working with executive search firm Heidrick & Struggles in the last few months to find a permanent CEO.
Sheehan was appointed as the interim in the meantime.
Dave & Buster’s, which owns and operates entertainment and dining venues in North America, is navigating a challenging period in 2025 but is showing signs of a rebound thanks to a renewed focus on core operations, including the return of popular promotions like Eat & Play, and a Summer Pass that’s gaining customer traction.
The company has also worked on store remodels, which have started to pay off in recent months.
The retail sentiment on the stock was unchanged and remained ‘bearish,’ compared to a year ago, with message volume at ‘extremely low’ levels, according to Stocktwits data.
Dave & Buster’s shares have risen 6.5% year-to-date but have lost nearly 23% of their value in the last 12 months.
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