SOURCE: Planet Fitness
HAMPTON, N.H., December 10, 2019 - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing franchisors and operators of fitness centers in the U.S., today announced that Tom Fitzgerald has been appointed Chief Financial Officer. Officially joining the Company in early January, Fitzgerald will be responsible for all aspects of financial strategy and management. He will report directly to Chris Rondeau, Chief Executive Officer of Planet Fitness. Fitzgerald will succeed Dorvin Lively who has served as Planet Fitness’ Chief Financial Officer since July 2013, and was promoted to Chief Financial Officer and President in April 2017. In his continuing role as President of Planet Fitness, Lively will remain focused on store development assisting franchisees both domestically and internationally, as well as the Company’s corporate store portfolio. Additionally, Lively will continue to provide leadership for the technology team.
Prior to joining Planet Fitness, Fitzgerald was Chief Financial Officer and Senior Vice President at Potbelly Sandwich Works. Prior to Potbelly, he served in varying leadership roles at Charming Charlie Inc. including President and Chief Financial Officer, and Chief Administrative Officer. Previously, Fitzgerald served as Chief Administrative Officer of Sears Canada. Additionally, he held several leadership positions at Liz Claiborne, was Chief Financial Officer at Burlington Coat Factory, and served as Chief Operating Officer of Bath & Body Works. Fitzgerald began his career at PepsiCo, where he held various leadership roles in finance and planning.
“I am pleased to welcome Tom, who brings over 30 years of extensive leadership experience in financial management in the retail industry, both domestically and internationally, to Planet Fitness,” said Chris Rondeau, Chief Executive Officer of Planet Fitness. “He has a terrific track record of building high performing teams and leading multi-unit consumer-facing companies, and his skill set, strong financial expertise and impressive accomplishments will further strengthen our management team, as we continue to execute against our strategic growth initiatives and long-term vision for the business.”
Rondeau continued, “I am confident in our existing finance team and that Dorvin and Tom can transition the primary leadership of this function, and that our track record of delivering strong results and exceptional shareholder returns will continue. This transition in our management team will allow Dorvin to assist me in focusing on supporting our strong base of franchisees and continuing to drive strong results.
“I echo Chris’ sentiments that Tom’s expertise and deep experience will be a valuable asset in leading our finance team. I will be working closely together with Tom and Chris in my current role as President, as we continue to execute our expansion plans, enhance the member experience and drive sustained, profitable growth,” said Lively.
"I am thrilled to join the Planet Fitness management team at such an exciting time for the business,” said Fitzgerald. “I look forward to working together with Chris and Dorvin, as well as the talented finance team to continue to create value for Planet Fitness franchisees, partners, and investors over the long term and for the fantastic opportunities we have before us.”
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 United States by number of members and locations. As of September 30, 2019, Planet Fitness had more than 14.1 million members and 1,899 stores in 50 states, the District of Columbia, Puerto Rico, Canada, the Dominican Republic, Panama and Mexico. 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 95% of Planet Fitness stores are owned and operated by independent business men and women.