Planet Fitness Announces Interim CEO Appointment Amidst Leadership Transition

Krissy Vann | Host, All Things Fitness and Wellness

Planet Fitness, Inc. (NYSE: PLNT) made a significant announcement today as Craig R. Benson, a member of the company's Board of Directors, takes on the role of Interim Chief Executive Officer, effective immediately. This move follows the decision by the Board to initiate a leadership transition, resulting in the departure of Chris Rondeau as the Company's CEO. Rondeau, however, will continue to serve on the Board of Directors and will be nominated for re-election at the Company's 2024 Annual Meeting. He will also play a crucial advisory role in ensuring a seamless transition.

In light of this transition, the Board has enlisted the services of a leading executive search firm to facilitate a comprehensive search process for identifying a permanent CEO. Both internal and external candidates will be considered for this crucial leadership position.

Stephen Spinelli, Jr. (Ph.D.), Chairman of the Board, stated, "As we enter the next chapter of Planet Fitness' journey, the Board felt that now was the right time to transition leadership. In today's evolving environment, Planet Fitness is continuing to enhance our competitive advantage, capitalize on our size and scale, and drive further shareholder value. The Board is confident that Craig, as a Board member and Planet Fitness franchisee, is the ideal leader to oversee the business during this transition period."

Craig R. Benson, who has served on the company's Board for six years and is a Planet Fitness franchise owner, expressed his readiness for the role, saying, "Planet Fitness is a truly unique brand with a strong track record of growth and opportunity to drive long-term value creation. I am ready to hit the ground running and look forward to working alongside the management team and employees to ensure a seamless transition for all of our stakeholders."

Stephen Spinelli, Jr. concluded by thanking Chris Rondeau for his significant contributions during his tenure as CEO, acknowledging the pivotal role he played in the company's growth and success.

Chris Rondeau, reflecting on his time at Planet Fitness, said, "My 30-year career at Planet Fitness has been an incredible ride, and it's been an honor to lead this Company. I am grateful for and look forward to supporting the management team in an advisory capacity, and have confidence in the long-term potential of Planet Fitness."

The company is poised to continue its journey towards its strategic goals under new leadership while appreciating Rondeau's continued support in a different capacity.

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