F45 has named Tom Dowd as CEO and Mark Wahlberg as chief brand officer to take F45 to the next level.
F45 Training Holdings Inc. announced that it has strengthened its leadership team with the naming of a new CEO and chief brand officer.
Together, they bring to F45 highly relevant expertise and a proven track record of building successful brands worldwide. These key appointments follow the company’s recent announcement of $90 million in new financing to improve its balance sheet and drive the business forward.
Tom Dowd has been appointed F45’s new CEO, effective immediately. He succeeds outgoing interim CEO Ben Coates, who remains on the company’s board of directors. Dowd is a seasoned operator who spent 25 years at GNC Holdings in a variety of executive leadership roles and, more recently, co-founded Performance Inspired, a leading active lifestyle nutrition company. Dowd was one of the early investors in F45.
“Tom has significant experience building successful franchise model and consumer goods businesses, cultivating globally resonant lifestyle brands, and developing high-performing teams, making him well suited to lead F45 into the future,” said Gene Davis, the chairman of F45’s board. “We are delighted to bring Tom onboard to help further refine F45’s go-forward business strategy to deliver sustainable growth, enhance opportunities for our franchisees and team, and drive long-term value for shareholders.”
“F45 is a game-changer in the fitness industry, and I couldn’t be more energized to be named CEO,” said Dowd. “The company is differentiated by its strong brand, dynamic and innovative programming, and a robust franchisee network — all of which I am confident will remain the cornerstones of our future success. I look forward to collaborating with the talented and passionate F45 team, as well as the board, to take the business and brand to the next level for the benefit of all of our stakeholders.”
In addition, Mark Wahlberg, F45 investor and brand ambassador, who has been a member of the company’s board since March 2019, has been named the chief brand officer. Beyond being a renowned actor and producer, Wahlberg is a fitness enthusiast and successful entrepreneur. He has built multiple brands across the retail and consumer goods sectors, including having co-founded Wahlburgers, Municipal Apparel and Performance Inspired.
“Just like our incredible training community, F45 has been laser focused in recent months on getting stronger and stronger, and I am thrilled to help the company elevate its amazing brand and vision at this pivotal time,” said Wahlberg. “I am confident in our ability to enhance what I believe is already the world’s best workout for studio operators and our more than 300,000 committed members across the globe.”
Davis added, “We are thrilled that Mark will be deepening his involvement with F45 and look forward to benefiting from his unique blend of business acumen and branding expertise. I am confident that under the leadership of Tom, Mark, and the rest of the management team, F45 will be poised to build on its strengths while evolving to unlock its full potential. As we look ahead to the significant opportunities in front of us, I would also like to thank Ben for his contributions as interim CEO during a period of transition.”