HAMPTON,
N.H., Feb. 22, 2024 /PRNewswire/ -- Planet
Fitness, Inc. (NYSE: PLNT) (the "Company"), today announced that
Tom Fitzgerald, Chief Financial
Officer, has informed the Company of his intention to retire at the
end of August 2024.
In connection with this transition, the Company will conduct a
comprehensive search to identify a new CFO with the assistance of a
leading executive search firm.
"On behalf of the Board and everyone at Planet Fitness, I would
like to thank Tom for his valued partnership and significant
contributions to the Company over the last four years," said
Craig Benson, Interim Chief
Executive Officer. "Tom has been a great asset to Planet Fitness,
having brought with him a wealth of knowledge and insight gained
from a 40-year career in finance and executive leadership. Among
his many accomplishments, Tom played a key role working with all
stakeholders to help us navigate through the impact of the COVID-19
pandemic, and was instrumental in expanding our capital allocation
strategy to include the acquisition of one of our largest and best
performing franchisees. During his tenure, Tom helped build a
talented finance team that will ensure a smooth transition to the
next chapter of the Company's financial leadership. We appreciate
that he will remain with the Company for the next several months as
we conduct our search for Planet Fitness's next CFO, and we wish
him all the best in his well-earned retirement."
"While I have been fortunate to have incredible experiences
across different industries over the past four decades, my last
four years at Planet Fitness have been particularly gratifying
working for a brand with such an incredible model and mission. In
August of last year, I conveyed to the Company that I was
contemplating retirement. I believe now is the right time to
transition finance leadership as Planet Fitness enters its next
phase of growth," said Fitzgerald. "I am proud of the work we have
accomplished to deliver value for franchisees, partners, and
shareholders and I look forward to working with the executive team
to ensure a smooth transition. In the meantime, I remain focused on
executing on our key strategic and financial objectives with the
goal of continuing to deliver value for our shareholders."
In a separate press release issued today, Planet Fitness
reported results for the fourth quarter of 2023. Planet Fitness
will hold a conference call at 8:00 AM
(ET) today. A live webcast of the conference call will be
accessible at www.planetfitness.com via the "Investor Relations"
link.
About Planet Fitness
Founded in 1992 in Dover, NH, Planet Fitness is one of the
largest and fastest-growing franchisors and operators of fitness
centers in the world by number of members and locations. As of
December 31, 2023, Planet Fitness had approximately 18.7
million members and 2,575 stores in all 50 states and the
District of Columbia in
the United States, Puerto Rico, Canada, Panama, Mexico and Australia. The Company's mission is to enhance
people's lives by providing a high-quality fitness experience in a
welcoming, non-intimidating environment, which we call the
Judgement Free Zone®. More than 90% of Planet Fitness stores are
owned and operated by independent business men and women.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/planet-fitness-chief-financial-officer-tom-fitzgerald-to-retire-302068248.html
SOURCE Planet Fitness, Inc.