Sphere Entertainment (SPHR) stock fell Tuesday morning after announcing the unexpected departure of Chief Financial Officer (CFO) David Byrnes, who "will continue in his current role for an interim period to facilitate a smooth transition."
Byrnes has been finance chief of the Las Vegas Sphere operator since last December, and before that was CFO of Madison Square Garden Entertainment (MSGE), which spun off from Sphere Entertainment in April 2023.
Sphere Entertainment did not provide a reason for Byrnes' departure, simply saying that he "will be leaving the company."
Sphere Entertainment shares recently were down 8% to $41.39, but are still up about 22% so far this year.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.