close
close

Xponential Fitness announces the appointment of Mark King as Chief Executive Officer

Posted on by darion

Xponential Fitness, Inc. (NYSE: June 2024. Mr. King will also join the Company’s Management Board. At that time, Brenda Morris will cease to serve as interim CEO but will continue to serve as a member of the Company’s Board of Directors.

Mr. King is a highly innovative, growth-oriented leader with a proven track record of scaling iconic global consumer and franchisor brands. Most recently, as CEO of Taco Bell, he led the franchisor to positive same-store sales growth in every quarter but one under his leadership while opening over 1,400 new franchise locations. He was also instrumental in accelerating Taco Bell’s international growth and was credited with establishing a healthy domestic franchise system. Before Taco Bell, Mark was president of Adidas North America, where he doubled market share and tripled sales in four years. Before Adidas, Mark built his career at TaylorMade, where he rose from regional sales representative to general manager. During Mark’s tenure, he grew TaylorMade into the leading and most profitable golf company in the world.

Mr. King currently serves on the Board of Directors of Party City. He holds a bachelor’s degree in business administration from the University of Wisconsin-Green Bay.

“The board is confident that Mark’s extensive experience in growing global brands and strengthening franchise systems will enable Xponential to strengthen its global leadership position in health and wellness,” said Mark Grabowski, president of Xponential Fitness. “Mark is a brand builder and innovator, and his approach to fostering a customer-centric culture and supporting franchisee success is a perfect fit for the company. I look forward to working with him to deliver long-term value to our stakeholders.”

“I am honored to become CEO of Xponential Fitness and excited to begin working with this world-class team of employees and franchisees as we continue the company’s mission to provide access to health and wellness for everyone,” said Mark King. “We have a strong portfolio of category-leading brands, and as one of the leading health and wellness franchisors, we are ideally positioned to continue to profitably expand our global footprint. I look forward to getting to know the Xponential team and franchisees in the coming months and creating value for our employees, franchisees and shareholders.”

About Xponential Fitness, Inc.

Xponential Fitness, Inc. (NYSE: XPOF) is one of the leading global franchisors of boutique health and wellness brands. In its mission to provide access to health and wellness for everyone, the company operates a diverse platform of nine brands spanning various industries, including pilates, indoor cycling, barre, stretching, dance, boxing, strength training, metabolic health and yoga. In partnership with its franchisees, Xponential offers energetic, accessible and personalized training led by highly qualified instructors in studio locations throughout the United States and abroad, with franchise agreements, franchise agreements and international expansion in 49 U.S. states and 22 additional countries. Xponential’s portfolio of brands includes Club Pilates, the largest Pilates brand in the United States; CycleBar, the largest brand of exercise bikes in the United States; StretchLab, the largest assisted stretching brand in the United States offering individual and group stretching services; AKT, a dance-based cardio workout combining toning, interval and circuit training; YogaSix, the largest yoga brand in the United States; Pure Barre, a full-body workout using a ballet barre to perform small isometric movements and the largest Barre brand in the United States; Rumble, a full-body workout inspired by boxing; BFT, functional and strength training program; and Lindora, a leading provider of medically assisted health and metabolic health solutions. More information can be found on the Company’s website at xponential.com.

Forward-looking statements

This press release contains forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections of future results based on management’s judgment, beliefs, current trends and projected financial results. These forward-looking statements include, but are not limited to, statements regarding the Company’s ability to utilize Mr. King’s experience and expertise. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. These factors include, but are not limited to, our relationships with master franchisees, franchisees and international partners; difficulties and challenges in opening studios for franchisees; the ability of franchisees to generate sufficient revenues; risks associated with expansion into international markets; loss of reputation and brand awareness; general economic conditions and industry trends; and other risks described in our filings with the SEC, including our Annual Report on Form 10-K for the full year ended December 31, 2023 filed by Xponential with the SEC and other periodic reports filed with the SEC. Other unknown or unpredictable factors or assumptions that later prove incorrect could cause actual results to differ materially from those contained in the forward-looking statements. Although we believe that the expectations reflected in forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. You should not place undue reliance on forward-looking statements. All information contained in this press release is current as of today, unless otherwise indicated, and Xponential has no obligation to update such information, except as required by applicable law.