Xponential Fitness, Inc. reported that recently minted CEO Mark King has called it quits. The former Taylormade and Adidas North America head honcho informed the XPOF Board of Directors that he intends to retire as the company’s CEO and Director due to health reasons.

King, who was hired by Exponential in mid-June 2024, will reportedly continue to serve as CEO throughout the search process for a successor until his retirement. King was CEO of Taco Bell.

King hired a strong team of leaders in key positions under him who may fit the bill.

  • Before being promoted to President of Exponential North America, John Kawaja served as the company’s president of Wholesale, Previously, Kawaja was president at TaylorMade Golf Company and the head of marketing for North America at Adidas Group,
  • Tim Weiderhoft was named chief operating officer (COO) of North America and brings a strong franchising background.
  • Kevin Beygi was named chief technology officer (CTO), and
  • Eric Simon was hired as chief development officer (CDO).

“It has been an honor to lead Xponential’s team through a critical and transformative period,” said King in a media release announcing his departure. “During my time as CEO, I leveraged my extensive experience in scaling global franchises to strengthen and broaden the appeal of our category-leading fitness brands. I helped stabilize the company through a focus on franchisee health and creating a customer-centric culture and laid out a strategy for the next phase of growth. Additionally, I appointed key executives to build a world-class leadership team to fulfill the vision of becoming the global franchisor of choice in health and wellness. I look forward to showcasing our new team at Xponential’s upcoming Analyst and Investor Day.”

The owner of the Club Pilates, CycleBar, StretchLab, YogaSix, Pure Barre, Rumble, BFT, and Lindora fitness and wellness brands put King in a tough position when the company, after King had been with the company for just nine months, had to restate its 2023 financial statements. The 2023 restatement corrected accounting errors primarily related to accrued inventory, 401(k) compliance, purchase accounting, and vendor rebates. The net impact of the 2023 corrections increased the company’s net loss from $1.7 million to $6.4 million and decreased Adjusted EBITDA from $105.3 million to $100.3 million. The restatement is not a result of any substantive change to the company’s operations or business performance for the corrected periods and had no impact on the company’s overall cash position or net cash flows.

“We have made significant progress over the course of my first two full quarters as CEO, and I have gained a deeper understanding of both the opportunities and challenges at Xponential,” said King in March 2025. “It is clear from some of the issues we have found and are addressing that there is a lot to do. That said, I have full confidence in the team we’ve assembled; they all have experience executing on exactly what Xponential must execute to sustainably grow.”

Mark Grabowski, chairman of the Board of Directors, tipped his hat to King, stating, “On behalf of the entire Board of Directors, I commend Mark for his contributions and dedication to supporting franchisees and his positive impact on the company. It has been a privilege to work with Mark, and we wish him the best in his retirement. The Board is committed to running a thorough search and onboarding process and appreciates Mark’s continued support to ensure a seamless leadership transition.”

King will reportedly participate in the Analyst and Investor Day on May 29 at the New York Stock Exchange. The event will feature presentations by members of the Xponential management team, including CFO John Meloun, Kawaja and Weiderhoft, focusing on the company’s operations, strategy and commitment to stockholder value.

Image courtesy Mark King