The Beachbody Company, Inc. hired Mark Goldston to the newly formed role of executive chairman of its Board of Directors. In this role, Goldston will partner with company co-founder and CEO Carl Daikeler to guide the company’s transformation, drive profitability and leverage its assets to drive growth.
Goldston serves as the chairman and CEO of The Goldston Group, a firm specializing in strategic advisory services, venture capital and investments in emerging growth companies. He is also a general partner of Athletic Propulsion Labs, LLC, an athletic footwear company. Before The Goldston Group, Goldston was chairman and CEO of United Online, a publicly traded global consumer and internet conglomerate. In addition, he was chairman and CEO of NetZero, an internet service provider, which he took public.
With Goldston’s appointment, the chairman position will be retired, and Carl Daikeler, the company’s co-founder, will continue as a director and CEO. Daikeler will also remain the company’s controlling shareholder.
“I felt strongly about pursuing Mark given his unique skills and experience, and I am thrilled to welcome Mark to BODi as our new executive chairman,” said Carl Daikeler, Beachbody’s co-founder and CEO. “I am incredibly grateful that Kevin Mayer, a director on our Board and a longtime friend to Mark, introduced us with the vision that the company and its shareholders could benefit from Mark’s capabilities. My goal is to leverage his strategic insights, especially his experience with public companies.”
With Goldston’s appointment, Daikeler agreed to forfeit approximately 3.2 million shares of the company’s Class A common stock and approximately 4.8 million shares of the company’s Class X common stock, in each case beneficially owned by Daikeler. The shares will be returned to the company as authorized but unissued shares of Class A Common Stock and Class X Common Stock.
Goldston stated, “I’ve followed this company for years and have so much respect for what Carl and the team have accomplished. I am honored to join BODi as executive chairman and be a part of the exciting journey ahead. The company’s incredible assets, combined with its talented leadership team, present a unique opportunity for growth and innovation. I am fully committed to helping maximize the company’s existing business model, helping lead its transformation efforts and monetizing its significant untapped potential. I am so confident in the company that I have elected to take all of my compensation in the form of options, aligning my interests with shareholders, and I look forward to collaborating closely with Carl, the leadership team and the entire organization to achieve our shared goals.”
Beachbody is a fitness and media company based in El Segundo, CA. Brands include Beachbody On Demand, Team Beachbody, MYXfitness, and Openfit.
