The Board of Directors of CEC Entertainment, Inc. has appointed Bruce M. “Smokey” Swenson as a director. Mr. Swenson currently serves as a Managing Director for the investment banking firm Stephens Inc. He was elected by the CEC Board at a special meeting on June 16, 2011.
Prior to joining Stephens Inc. in 1999, Mr. Swenson served as Senior Managing Director for the investment banking firm Everen Securities, Inc. from 1998 to 1999. From 1992 to 1998, Mr. Swenson worked for Principal Financial Securities, Inc., an investment banking firm, where he was a Senior Vice President and head of the Corporate Finance Department from 1996 to 1998. Mr. Swenson was a Senior Vice President at Southwest Securities, Inc., an investment banking firm, from 1990 to 1992. From 1980 to 1990, Mr. Swenson was a Senior Vice President and Director at Rotan Mosle Inc., an investment banking firm. Mr. Swenson was an accountant from 1976 to 1980 at Peat Marwick, a public accounting firm and a predecessor firm of KPMG, where he worked in the audit and private business advisory departments.
Mr. Swenson is an independent director under the New York Stock Exchange listing standards and the Company’s Corporate Governance Guidelines and has been appointed by the Board to serve as Chairman of the Audit Committee and as a member of the Nominating/Corporate Governance Committee. Mr. Swenson is an “audit committee financial expert” as defined by SEC standards. Mr. Swenson’s election brings CEC’s Board to nine members, seven of whom are independent.
CEC Executive Chairman Richard M. Frank said, “We are delighted Smokey Swenson has joined the CEC Board as an independent director and look forward to working closely with him as we continue to expand the Chuck E. Cheese brand domestically and around the world. The CEC Board and our investors will benefit from his finance and industry experience.”