Source: 24 Hour Fitness
San Ramon, CA – March 16, 2017 – 24 Hour Fitness, one of the world’s largest health club organizations, has announced that, based upon a mutually-agreed decision between Mark Smith and the Board of Directors of 24 Hour Fitness, Mr. Smith has stepped down as its Chief Executive Officer. Effective immediately, Frank Napolitano, the current President of 24 Hour Fitness, will assume the role of Acting Chief Executive Officer.
“We are thankful for Mark’s contribution to the Company over the past two and a half years,” said Frank Napolitano, Acting Chief Executive Officer of 24 Hour Fitness. “During Mark’s tenure, the Company maintained a strong and consistent level of revenue and EBITDA. I look forward to working with the rest of the executive management team to keep driving results in the business and to grow our Company.”
About 24 Hour Fitness
Headquartered in San Ramon, California, 24 Hour Fitness is a leading health club industry pioneer, serving nearly 4 million members in over 425 clubs across the U.S. For more than 30 years, the Company has been dedicated to helping members change their lives and reach their individual fitness goals. 24 Hour Fitness is jointly-owned by the affiliates of AEA Investors LP, Ontario Teacher’s Pension Fund, and Fitness Capital Partners, LLC.
Please visit 24hourfitness.com for more information.
