HAMPTON,
N.H., Oct. 30, 2024 /PRNewswire/ -- Planet
Fitness, Inc. (NYSE: PLNT) (the "Company") one of the largest
and fastest-growing franchisors and operators of fitness centers
with more members than any other fitness brand, announced today
that it has appointed Jay Stasz as
its next Chief Financial Officer (CFO), effective November 15, 2024. Mr. Stasz will join the
Company on November 4, 2024, and will
work with current CFO Tom Fitzgerald
until assuming the role. As previously announced, Mr. Fitzgerald
will remain an employee of the Company through December 31, 2024 to ensure a smooth transition
and will serve in a consulting capacity with the Company through
March 31, 2025.
Mr. Stasz is an accomplished finance executive with more than 25
years of experience in diverse retail and consumer-facing
environments where he has been instrumental in developing
high-performing finance teams and supporting significant growth and
value creation. He most recently served as Chief Financial Officer
at Savers Value Village ("Savers"), the largest for-profit thrift
operator in the U.S. and Canada,
where he played a critical role in the company's successful IPO in
June 2023. Prior to Savers, he served
as CFO at Ollie's Bargain Outlet, America's largest retailer of
closeout merchandise and excess inventory, where he was
instrumental in driving revenue and profit growth. Earlier in his
career, Mr. Stasz served in several roles of increasing
responsibility at Sports Authority.
"I'm pleased to welcome Jay to the Planet Fitness team, and I'm
confident he will support the execution of our strategic
imperatives and our ongoing work with our franchisees to drive
profitable growth," said Colleen
Keating, Chief Executive Officer. "Jay is a highly
experienced and collaborative leader who brings a proven track
record of optimizing growth in retail and consumer spaces. I'm
eager to work closely with him to support our team members as we
provide high-quality and accessible fitness experiences for our
members, and to ultimately increase value for shareholders."
"I am excited to join the Planet Fitness team during this next
phase for the Company," said Mr. Stasz. "Planet Fitness is a brand
with a clear mission and value proposition for its members as well
as a compelling business model. I'm confident in its relevance to
today's consumer, and its opportunities for growth in the U.S. and
abroad. I look forward to leveraging my skills and experiences to
support the Company and its franchisees."
Ms. Keating continued, "On behalf of the entire Planet Fitness
team, I want to thank Tom for his contributions and dedication to
Planet Fitness since joining the Company in 2020. I am incredibly
appreciative of Tom continuing to fulfill his duties as CFO
throughout the search process and for working with Jay to ensure a
smooth transition. Tom has been a true partner to me since I joined
the Company, and we wish him all the best in his well-deserved
retirement."
Planet Fitness will issue its third quarter 2024 earnings report
on November 7, 2024.
About Jay Stasz
Mr.
Stasz is an accomplished finance executive with more than 25 years
of experience in diverse retail and consumer-facing businesses. He
most recently served as Chief Financial Officer at Savers Value
Village, the largest for-profit thrift operator in the U.S. and
Canada, from 2022 to 2024, where
he played a critical role in the company's IPO in 2023. Before
Savers, Stasz spent seven years at Ollie's Bargain Outlet,
America's largest retailer of closeout merchandise and excess
inventory, serving as Chief Financial Officer from 2018 to 2022.
Under his leadership at Ollie's, the company more than doubled its
revenue from ~$760 million to
~$1.8 billion. Between 1998 and 2015,
Stasz served in several roles of increasing responsibility at
Sports Authority. He graduated with a Bachelor's Degree in
Accounting from the University of Southern
California.
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 June 30, 2024, Planet Fitness had approximately
19.7 million members and 2,617 stores in all 50 states, the
District of Columbia, 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.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the federal securities laws, which involve risks and
uncertainties. Forward-looking statements include the Company's
statements with respect to the Company's growth and other
statements that do not relate solely to historical facts.
Forward-looking statements can be identified by words such as
"anticipate," "believe," "envision," "estimate," "expect,"
"intend," "may," "goal," "plan," "prospect," "predict," "project,"
"target," "potential," "will," "would," "could," "should,"
"continue," "ongoing," "contemplate," "future," "strategy" and
similar references to future periods, although not all
forward-looking statements include these identifying words.
Forward-looking statements are not assurances of future
performance. Instead, they are based only on the Company's current
beliefs, expectations and assumptions regarding the future of the
business, future plans and strategies, projections, anticipated
events and trends, the economy and other future conditions. Because
forward-looking statements relate to the future, they are subject
to inherent uncertainties, risks and changes in circumstances that
are difficult to predict and many of which are outside of the
Company's control. Actual results and financial condition may
differ materially from those indicated in the forward-looking
statements. Important factors that could cause our actual results
to differ materially include competition in the fitness industry,
the Company's and franchisees' ability to attract and retain
members, the Company's and franchisees' ability to identify and
secure suitable sites for new franchise stores, changes in consumer
demand, changes in equipment costs, the Company's ability to expand
into new markets domestically and internationally, operating costs
for the Company and franchisees generally, availability and cost of
capital for franchisees, acquisition activity, developments and
changes in laws and regulations, our substantial increased
indebtedness as a result of our refinancing and securitization
transactions and our ability to incur additional indebtedness or
refinance that indebtedness in the future, our future financial
performance and our ability to pay principal and interest on our
indebtedness, our corporate structure and tax receivable
agreements, failures, interruptions or security breaches of the
Company's information systems or technology, general economic
conditions and the other factors described in the Company's annual
report on Form 10-K for the year ended December 31, 2023, as well as the Company's other
filings with the Securities and Exchange Commission. In light of
the significant risks and uncertainties inherent in forward-looking
statements, investors should not place undue reliance on
forward-looking statements, which reflect the Company's views only
as of the date of this press release. Except as required by law,
neither the Company nor any of its affiliates or representatives
undertake any obligation to provide additional information or to
correct or update any information set forth in this release,
whether as a result of new information, future developments or
otherwise.
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SOURCE Planet Fitness, Inc.