Sphere CFO David F. Byrnes Departs

s.refik — SPHERE AS CANVAS: Artist Refik Anadol used the Exosphere’s 580,000 square feet of fully programmable LED paneling on Sept. 1 to debut his work “Machine Hallucinations: Sphere.” Photo by Sphere Entertainment

Sphere Entertainment Executive Vice President, Chief Financial Officer and Treasurer David F. Byrnes is departing the company.

Sphere announced the abrupt departure of the executive Oct. 8. Byrnes had been in his role since December and prior to that was CFO of Madison Square Garden Entertainment, which was spun off from Sphere in April 2023.

No reason for his departure was given.

“The Company will commence a search for a new Chief Financial Officer and Treasurer. Mr. Byrnes will continue in his current role for an interim period to facilitate a smooth transition,” the company said in a release. “Mr. Byrnes played a critical role in many strategic transactions, including the spin-off of MSG Entertainment from the Company in April 2023, the sale of the Company’s majority interest in Tao Group Hospitality in May 2023, and two secondary stock offerings in June 2023 and September 2023, whereby the Company sold its remaining shares in MSG Entertainment.”

Sphere stock fell sharply on the news, down to $41.50 mid-morning Tuesday from a Monday close of $45.08. It was trading at $43.08 midday Wednesday.

Sphere Entertainment’s next quarterly earnings report is expected in early November.