Planet Fitness reshuffles leadership for strategic growth

HAMPTON, N.H. - Planet Fitness, Inc. (NYSE:PLNT), a prominent franchisor and operator of fitness centers valued at $8.76 billion, has announced a realignment of its leadership team, appointing Bill Bode as the new Chief Operating Officer and Jennifer Simmons as the Chief Strategy Officer, effective March 3, 2025. The company’s stock has shown strong momentum, gaining over 31% in the past six months, though InvestingPro analysis suggests current trading levels exceed Fair Value. These changes are part of an initiative to bolster the company’s strategic imperatives and drive growth.

Bode, transitioning from his role as Division President, U.S. Franchise, will now oversee operations for both franchise and corporate clubs. His focus will be on delivering Planet Fitness’s commitment to a non-intimidating, high-value member experience. Simmons, previously Division President, Corporate Clubs, will be responsible for a data-driven approach to strategy, identifying trends, and maintaining the company’s industry leadership position.

CEO Colleen Keating expressed confidence in the newly structured management team, emphasizing their focus on key growth drivers, culture of accountability, and operational efficiency. Keating’s statement highlighted the company’s dedication to delivering value for franchisees, members, and shareholders.

These appointments follow earlier leadership additions, with Chip Ohlsson joining as Chief Development Officer and Brian Povinelli as Chief Marketing Officer, both reporting to Keating. Jamie Medeiros will continue as Chief Brand Officer under Povinelli. The leadership changes come as Planet Fitness maintains impressive financial metrics, including a robust gross profit margin of 60.33% and a healthy financial position, according to InvestingPro’s comprehensive analysis.

The company is also set to release its full fiscal year 2024 results and a 2025 outlook on February 25, 2025. This announcement comes as the fitness giant continues to expand, with approximately 19.7 million members and 2,722 clubs across multiple countries.

This press release contains forward-looking statements that involve risks and uncertainties, including the company’s growth prospects and future performance. Investors are cautioned not to place undue reliance on these statements, which are based on current beliefs and assumptions. The company’s actual results may differ materially due to various factors, including competition, member retention, site selection for new clubs, market expansion, operating costs, capital availability for franchisees, regulatory developments, and economic conditions.

The information in this article is based on a press release statement from Planet Fitness, Inc.

In other recent news, TD Cowen has reiterated a Buy rating on Planet Fitness, maintaining a price target of $125. Analyst Max Rakhlenko acknowledged the company’s strong start to fiscal year 2025, pointing out the potential significance of the fourth quarter earnings per share (EPS). He also noted expected lower first-quarter membership additions compared to the previous year, but highlighted the company’s pricing strength, particularly with the Black Card membership.

Simultaneously, Stifel analysts have adjusted their stance on Planet Fitness, setting a revised price target at $90 while maintaining a Hold rating on the shares. They reported a comparable sales increase of 5%, which was in line with projections. However, total memberships slightly missed the mark, reporting 19.7 million compared to the anticipated 19.8 million.

Additionally, Planet Fitness has announced two new executive appointments, Chip Ohlsson as Chief Development Officer and Brian Povinelli as Chief Marketing Officer. TD Cowen analysts also mentioned encouraging signs from key performance indicators following the Classic Card price increase, including improved membership additions, reduced churn rates, and robust growth in the Black Card mix. These recent developments suggest a positive trajectory for Planet Fitness, backed by the company’s ability to command higher prices and the popularity of its premium membership tier.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.