Introducing Colleen Keating: Planet Fitness’s New CEO
Planet Fitness recently announced that Colleen Keating will be taking over as the fitness club’s new CEO, effective June 10. This news comes after months of searching, with some analysts seeing it as a positive move for the company, despite shares falling more than 3% following the announcement.
Keating brings with her 30 years of experience in large-scale operations and franchise management, as well as leadership in global consumer-facing operations across various industries. She most recently served as CEO of FirstKey Homes and has held leadership roles at InterContinental Hotels Group and Starwood Hotels & Resorts Worldwide, Inc.
Analyst Korinne Wolfmeyer from Piper Sandler sees Keating’s appointment as the first catalyst for positive changes within the company. She believes that Keating can lead the New Growth Model changes, instill confidence in potential pricing changes, and help lay out a plan for the upcoming CFO search, all of which could drive earnings upside and valuation appreciation for Planet Fitness.
Keating will also be instrumental in the CFO search as the company’s current CFO, Tom Fitzgerald, announced his retirement in February and will step down on September 1. With her deep operational knowledge and strategic mindset, Keating is seen as an exceptional leader to accelerate Planet Fitness’s next phase of growth.
Despite facing headwinds such as the growing popularity of weight loss drugs and controversy surrounding its locker room policy, Keating’s leadership is expected to help Planet Fitness navigate these challenges successfully.
As an investor, it’s important to keep an eye on Planet Fitness as Keating settles into her new role and the company prepares to hold its annual general meeting on April 30 and report first-quarter earnings on May 2. Stay tuned for updates on how Keating’s leadership will shape the future of Planet Fitness.
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