Xponential Fitness, Inc. Founder Anthony Geisler resigned as CEO of the company. Brenda Morris, an experienced C-Suite executive and member of Xponential’s Board of Directors since 2019, will continue to serve as Xponential’s Interim CEO.
Morris was initially appointed interim CEO after the company’s Board of Directors removed Geisler from his duties and suspended him indefinitely as CEO, effective April 13, 2024.
The Board has initiated a search for the company’s next CEO with support from the previously retained leading executive search firm.
“With Brenda serving as Interim CEO, we are confident that Xponential is poised to continue to build on our successful track record,” said Mark Grabowski, chairman of Xponential Fitness. “Xponential’s brands continue to resonate with consumers as evidenced by our all-time high membership of 796,000 in April, up 1.7 percent sequentially from March. We remain focused on ensuring a smooth transition across our organization and continuing to serve our customers and franchisees as we execute our growth strategy.”
The company reported that it had received notice on May 7, 2024, of an investigation by The U.S. Attorney’s Office for the Central District of California (USAO). The company previously disclosed an investigation by the Securities and Exchange Commission (SEC). The company reported that it “intends to continue cooperating with the SEC and intends to cooperate with the USAO. The Board formed a Special Committee of Directors, consisting of independent directors Grayson, Jair Clarke and Jeffrey Lawrence, to investigate the matters.
During his time overseeing Xponential as CEO, Geisler led the acquisitions of Body Fit Training (BFT), Row House, YogaSix, CycleBar, StretchLab and, most recently, Lindora.
Image courtesy Xponential Fitness
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Xponential Fitness Appoints Interim CEO; Founder Removed by Board
