Planet Fitness appoints new CEO Colleen Keating, shares drop 3%, analysts positive

From CNBC: 2024-04-16 16:24:21

Colleen Keating has been announced as the new CEO of Planet Fitness, effective June 10. Analysts are positive about the move, calling it a catalyst for the stock despite a 3% drop in shares following the announcement. Keating brings 30 years of experience in operations and franchise management to the role.
Keating’s appointment comes as Planet Fitness faces challenges like competition from weight loss drugs and controversy over its locker room policy. Keating’s unconventional choice as CEO is seen as a solid move to navigate through these obstacles. She will also be involved in the search for a new chief financial officer.
Planet Fitness shares have seen a 17% decline this year and have been volatile since the departure of former CEO Chris Rondeau. Keating’s leadership is expected to accelerate the company’s next phase of growth. The fitness club will hold its annual general meeting on April 30 and report first-quarter earnings on May 9.



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