Planet Fitness Appoints Jay Stasz as Chief Financial Officer
Planet Fitness, Inc. (NYSE: PLNT), a leader in the fitness industry, has announced the appointment of Jay Stasz as its new Chief Financial Officer (CFO). This move is a significant milestone for the company as it continues to expand its operations and strengthen its leadership team. Mr. Stasz will officially join the team on November 4, 2024, and work alongside the current CFO, Tom Fitzgerald, during the transition until he fully assumes his new responsibilities on November 15, 2024.
Leadership Transition and Support
Tom Fitzgerald will remain with Planet Fitness until December 31, 2024, ensuring a smooth transition for the company and Mr. Stasz. Fitzgerald has been an invaluable asset since he joined the company in 2020, and his experience will be vital during this period of change as he will serve in a consulting capacity until March 31, 2025.
Expanding Financial Expertise
Jay Stasz brings over 25 years of financial expertise with a notable background in retail and consumer-oriented businesses. Previously, he served as the Chief Financial Officer at Savers Value Village, where he played a crucial role in its successful IPO in June 2023. His leadership at Ollie’s Bargain Outlet, where he also held the CFO position, saw the company double its revenue from approximately $760 million to around $1.8 billion during his tenure.
Vision for Growth at Planet Fitness
In his acceptance, Mr. Stasz expressed enthusiasm for joining the Planet Fitness team and acknowledged the company’s clear mission to offer accessible fitness experiences. He stated his belief in the brand's relevance and growth potential in the U.S. and international markets. Mr. Stasz aims to leverage his extensive experience to propel the company further and support its franchises.
Leadership Confidence
Colleen Keating, the Chief Executive Officer of Planet Fitness, welcomed Mr. Stasz to the team, reinforcing her confidence in his abilities to succeed in optimizing growth while working close with franchisees. Keating acknowledged Fitzgerald's substantial contributions to the company and expressed gratitude for his continued commitment during this transition.
Upcoming Financial Reports
Planet Fitness is set to release its third-quarter earnings report on November 7, 2024. This report is anticipated by the market and stakeholders as it provides insights into the financial health and operational success of the company heading into the year’s end.
About Jay Stasz
Mr. Stasz is equipped with a diverse background in finance across different sectors. His prior roles include being Chief Financial Officer at Savers and Ollie’s Bargain Outlet, where he built effective financial teams and contributed to significant revenue growth. A graduate in Accounting from the University of Southern California, his expertise aligns well with the ongoing objectives of Planet Fitness.
About Planet Fitness
Founded in 1992, Planet Fitness has emerged as a leader among fitness clubs globally, boasting over 19.7 million members and 2,617 locations spanning the United States, Canada, and other regions. The company focuses on providing a welcoming environment called the Judgment Free Zone, where members can comfortably engage in their fitness journey. With more than 90% of its locations operated by independent franchise owners, Planet Fitness continues to prioritize accessibility and quality in fitness experiences.
Frequently Asked Questions
Who is Jay Stasz?
Jay Stasz is the newly appointed Chief Financial Officer of Planet Fitness, effective November 15, 2024, bringing over 25 years of financial expertise to the role.
What experience does Jay Stasz have?
Mr. Stasz has extensive experience in the retail and consumer sectors, previously serving as CFO at Savers and Ollie's Bargain Outlet, where he significantly improved revenue.
Why is Tom Fitzgerald remaining with Planet Fitness?
Tom Fitzgerald will assist in the transition process, remaining with Planet Fitness until December 31, 2024, to ensure continuity and support for Mr. Stasz.
What is the mission of Planet Fitness?
Planet Fitness aims to provide a high-quality fitness experience in a non-intimidating environment known as the Judgment Free Zone.
When is the next earnings report for Planet Fitness?
The next earnings report for Planet Fitness is scheduled for November 7, 2024, with insights on the company's performance for the third quarter.
