On August 25, Gold’s Gym president and CEO Adam Zeitsiff announced it would be his last day with the fitness brand.
Zeitsiff shared the following statement on LinkedIn:
To my Gold’s Gym and global business family,
I would like to personally share with you that today will be my last day as the President & CEO of Gold’s Gym.
Being part of this company and our amazing global family, from my time as CIO and most recently serving as CEO, has been the highlight of my professional career.
As you know, Gold’s Gym Gym has gone through many changes in the last few years, all of which have been with the goal of strengthening the financial position of the company while staying true to our history as the most iconic fitness brand in the world.
We’ve done great work together and I couldn’t be prouder. I will look back on this time with great fondness and can’t wait to see what’s next for the company.
Thank you to my entire Gold’s Gym Family around the world for the commitment you have shown to our brand, our members, our franchisees, and most importantly – to one another. It has been an honor and pleasure to work with you.
I truly love you all.
All the best,
Adam
Gold’s Gym was acquired by RSG Group after they were selected as the winning bidder in a court-approved auction process on July 13.
Gold’s Gym was hit hard by the COVID-19 pandemic. In mid-April, the fitness brand announced the permanent closure of 30 company-owned locations due to the pandemic, and filed voluntary petitions for relief under Chapter 11 in May, in an effort to facilitate the financial restructuring of the company.
Currently, a replacement for Zeitsiff has not been announced.
Gold’s Gym boasts around 700 locations in 29 countries.
UPDATE: Rainer Schaller, the CEO of RSG Group, recently spoke with Forbes about his company’s acquisition of the historic fitness brand.
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Rachel Zabonick-Chonko is the editor-in-chief of Club Solutions Magazine. She can be reached at rachel@peakemedia.com.
