Xponential Fitness, Inc. (NYSE: XPOF), a leading health and wellness franchise, has announced a major reshuffle in its top management. Brenda Morris, a seasoned executive with a substantial track record, has been appointed as the interim Chief Executive Officer with immediate effect.
Brenda Morris, who has been a part of Xponential’s Board of Directors since 2019, steps into the role amidst the company’s ongoing cooperation with investigations by both the Securities and Exchange Commission (SEC) and the United States Attorney’s Office for the Central District of California.
The company’s swift action follows the suspension of former CEO Anthony Geisler, who has been removed from his duties indefinitely. In tandem with these changes, Chelsea Grayson has assumed the position of Lead Independent Director of the Board.
Mark Grabowski, Chairman of Xponential, expressed his confidence in Morris, citing her deep involvement and understanding of the company’s mission to make health and wellness accessible to all. “Brenda has been instrumental in our growth, and her leadership is crucial as we navigate through this challenging period,” said Grabowski.
Morris, reflecting on her new role, reaffirmed her commitment to the company’s vision. “It’s an honor to lead Xponential at such a pivotal time. Our focus remains on enhancing our franchise model and expanding our global studio presence,” she stated.
The Board has also formed a Special Committee of Directors to conduct a thorough investigation into the matters at hand. Meanwhile, the search for a permanent CEO is underway, with a leading executive search firm engaged to assist in the process.
Despite the ongoing investigations, Xponential Fitness has re-affirmed its full-year 2024 guidance, signaling confidence in its financial stability and future prospects.
Morris brings over 35 years of experience in finance, accounting, and operations, primarily in the consumer products and retail sectors. Her extensive resume includes leadership roles at CSuite Financial Partners, Apex Parks Group, Hot Topic, Inc., and 5.11 Tactical. She also serves on the boards of Boot Barn Holdings, Inc., and iHerb.com, and holds both a NACD Directorship Certification and a Cyber-Risk Oversight Certification.
As Xponential Fitness navigates through these developments, stakeholders are watching closely, anticipating the company’s next moves under the stewardship of Brenda Morris.
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