Planet Fitness Chief Financial Officer Tom Fitzgerald to Retire

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Planet Fitness, Inc. announced the retirement of CFO Tom Fitzgerald, initiating a search for a new CFO. Fitzgerald's 40-year career in finance and executive leadership has been instrumental in the company's growth and navigating the COVID-19 impact. The company reported fourth-quarter 2023 results, emphasizing continued focus on strategic and financial objectives.

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.

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SOURCE Planet Fitness, Inc.

FAQ

When will CFO Tom Fitzgerald retire from Planet Fitness?

CFO Tom Fitzgerald will retire at the end of August 2024.

How long has Tom Fitzgerald been with Planet Fitness?

Tom Fitzgerald has been with Planet Fitness for the last four years.

What role did Tom Fitzgerald play in Planet Fitness's growth?

Tom Fitzgerald played a key role in expanding the company's capital allocation strategy and acquiring one of the largest franchisees.

What did Planet Fitness announce regarding the CFO transition?

Planet Fitness announced a comprehensive search to identify a new CFO with the assistance of an executive search firm.

When will Planet Fitness hold a conference call regarding the fourth quarter results?

Planet Fitness will hold a conference call at 8:00 AM (ET) today to discuss the fourth quarter results.