Planet Fitness ousts CEO, shares slide
Chris Rondeau is a 30-year company veteran
FOX Business Flash top headlines for September 14
Check out what's clicking on FoxBusiness.com
Planet Fitness ousted CEO Chris Rondeau, a 30-year company veteran, the fitness center chain announced on Friday.
Craig Benson, a member of the company's board of directors and former New Hampshire governor, has been appointed interim CEO. The changes are effective immediately.
![Planet Fitness customer](https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2022/01/931/523/Planet-Fitness-.jpg?ve=1&tl=1)
Planet Fitness is replacing CEO Chris Rondeau, effective immediately. (PATRICK T. FALLON/AFP via Getty Images / Getty Images)
FORD, GM, STELLANTIS DEALERSHIPS BRACE FOR POTENTIAL UAW STRIKE
Planet Fitness shares slid 13% in intraday trading.
Planet Fitness
Rondeau will remain a member of the board and be nominated for re-election at the company's 2024 annual meeting. He will also maintain an advisory role to help ensure a smooth leadership transition.
INSTACART: WHAT TO KNOW ABOUT ONLINE GROCERY SERVICE
"As we enter the next chapter of Planet Fitness' journey, the Board felt that now was the right time to transition leadership," Planet Fitness Chairman Stephen Spinelli said in a statement.
UAW STRIKE COULD SLAM THE US ECONOMY
According to the statement, the management change is not the result of any material or unexpected financial events.
GET FOX BUSINESS ON THE GO BY CLICKING HERE