Town Sports International Holdings Inc., an owner and operator of fitness clubs in the Northeast and mid-Atlantic regions of the U.S., appointed Patrick Walsh, executive chairman of the company, to CEO, effective September 30.
TSI also shared that COO Greg Bartoli will be leaving the company, also effective September 30.
TSI operates under the brand names New York Sports Clubs, Boston Sports Clubs, Washington Sports Clubs, Philadelphia Sports Clubs and BFX Studio.
“In order to continue our strategic efforts to evolve as a more efficient and streamlined organization, I will assume the role of CEO…and we will merge the roles of chief operating officer and chief executive,” said Walsh. “Greg joined TSI over a year ago and contributed his extensive financial and entrepreneurial expertise to strengthening our organization. Greg led the way towards strengthening club financials, exploring new business ventures, renegotiating our leases and strengthening our balance sheet while engaging in organizational changes that allowed for stronger club leadership. These initiatives led to more than $40 million of savings annually and significant increases in the Company’s EBITDA. I am extremely proud that these accomplishments were achieved in less than 12 months time.”
Photo courtesy BFX Studio
