Executive Change - Sphere Entertainment announced the unexpected departure of CFO David Byrnes, who will continue in his current role for an interim period to facilitate a smooth transition [1][2] - The company did not provide a reason for Byrnes' departure, simply stating that he "will be leaving the company" [1][3] Stock Performance - Sphere Entertainment shares fell 8% to $41.39 following the announcement of the CFO's departure [3] - Despite the recent decline, the company's shares are still up about 22% so far this year [3] Background Information - David Byrnes has been the CFO of Sphere Entertainment since December 2022 [1][2] - Prior to joining Sphere Entertainment, Byrnes was the CFO of Madison Square Garden Entertainment (MSGE), which spun off from Sphere Entertainment in April 2023 [2]
Sphere Entertainment Stock Tumbles on Unexpected CFO Departure