24 Hour Fitness USA, Inc. announced that Mark Smith has formally stepped into his role as CEO. Smith was named CEO when AEA Investors, the Ontario Teachers’ Pension Plan and Fitness Capital Partners completed the acquisition of the company from Forstmann Little & Co in June 2014.
“I’m delighted to be working with the company’s incredibly talented executives and all of our dedicated team members,” said Smith, in a press release. “Together, we will put this great company on a path to even greater success. I’d like to thank the leadership team for their support in a seamless transition from the acquisition to our next chapter.”
To date, 24 Hour Fitness’ leadership team, in addition to Smith, now consists of Frank Napolitano as president and Patrick Flanagan as chief financial officer. Smith took the place of Elizabeth Blair, who was named CEO of 24 Hour Fitness in September 2013.
24 Hour Fitness operates more than 400 locations across the U.S. and serves nearly 4 million members. The company’s headquarters resides in San Ramon, California.