The Gym Group plc CEO succession plan (5923P)
May 30 2018 - 2:00AM
UK Regulatory
TIDMGYM
RNS Number : 5923P
The Gym Group plc
30 May 2018
The Gym Group Plc
("The Gym" or "the Company")
CEO succession plan
The Board of The Gym Group plc announces that John Treharne, the
founder of the Company, is to stand down as Chief Executive Officer
with effect from 17 September 2018, having led the Company through
its first 10 years growing the portfolio from a single gym in
Hounslow to 133 gyms today. John will remain on the Board as
Founder Director continuing to provide the benefit of his immense
network and experience across the sector with a focus on nurturing
culture and entrepreneurial activity whilst also leaving more time
for his family and personal interests.
Following a thorough search process which considered both
external and internal candidates, the Board is also pleased to
announce that Richard Darwin, currently the Company's Chief
Financial Officer, will succeed John as Chief Executive Officer,
also with effect from 17 September 2018. Richard joined The Gym
Group prior to the Company's IPO in 2015 as Chief Financial Officer
and has since worked closely alongside John in delivering the rapid
profit growth and site expansion which The Gym Group has
achieved.
A process to appoint a new CFO is now underway.
Penny Hughes, Chairwoman of The Gym Group, said:
"On behalf of the entire Gym Group team, I would like to
acknowledge John's extraordinary achievement in pioneering the low
cost fitness model and developing The Gym Group into the fastest
growing company in the sector across Europe. His passion, vision
and innovation have built a start-up into a market leader and
provided access to fitness for all. We are all delighted that John
will continue to contribute to the business which he founded and
that The Gym will still benefit from his vast experience and
knowledge.
"We are fortunate to have such an able successor for the CEO
role in Richard Darwin. Richard has unrivalled experience and
knowledge of both the multi-site leisure industry and the Company,
having been instrumental in delivering and executing The Gym
Group's strategy with John since IPO. He is uniquely equipped to
continue to drive The Gym Group along its planned growth trajectory
and deliver its next exciting phase of development."
30 May 2018
Enquiries
The Gym Group via Instinctif
Penny Hughes, Chairwoman
John Treharne, CEO
Richard Darwin, CFO
Numis
Oliver Cardigan
Toby Adcock 020 7260 1000
Instinctif
Matthew Smallwood
Justine Warren 0207 457 2020
Inside Information
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No.596/2014. Upon the publication
of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public domain
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END
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