Chris Rondeau, CEO of Planet Fitness
Adam Jeffery | CNBC
In a surprising move, Planet Fitness has removed long-time company veteran Chris Rondeau from his position as CEO, according to a press release issued on Friday.
Following the announcement, shares plummeted by nearly 16%, reaching a 52-week low.
Planet Fitness has stated that it is currently conducting an internal and external search for its next CEO. In the meantime, Craig Benson, a former governor of New Hampshire and a member of the company’s board, will serve as the interim CEO. Benson, who has been on Planet’s board for six years, is also a franchisee of both Planet Fitness and Dunkin’ Donuts.
Rondeau’s departure seems sudden, and the exact reason behind the decision remains unclear, especially considering the stronger-than-expected second-quarter earnings report released last month. Some of Rondeau’s close staff members were shocked to learn about his departure at the same time as the public announcement, according to a source familiar with the matter. The source spoke on the condition of anonymity.
2023-09-15 15:12:29
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