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Planet Fitness Appoints Dorvin Lively As New Chief Financial Officer

Stocks in this article: RSH

NEWINGTON, N.H., July 23, 2013 /PRNewswire/ --  Planet Fitness, the innovative health club franchise known for its Judgement Free Zone® and friendly prices, today announced that Dorvin Lively has been appointed to the position of Chief Financial Officer. Lively, a 30-year veteran of corporate finance for various retail and consumer-products companies, will lead the Company's finance, treasury, financial planning and supply chain functions, as well as strategic and long-term planning. He will report directly to Planet Fitness' Chief Executive Officer, Chris Rondeau.

(Logo: http://photos.prnewswire.com/prnh/20130109/NE34800LOGO)

Lively joins Planet Fitness from RadioShack Corporation (NYSE: RSH) where he served as Executive Vice President, Chief Financial Officer and Chief Administrative Officer. In these positions, Lively led the Company's finance, treasury, financial planning, investor relations, supply chain and dealer franchise functions. Prior to RadioShack, Lively served as Chief Financial Officer at Ace Hardware Corp. His experience also includes previous positions at Maidenform Brands, Toys R Us, Reader's Digest and Pepsi-Cola International. Lively is a certified public accountant and received his bachelor's degree from the University of Arkansas.

"We are thrilled to welcome Dorvin Lively to the Planet Fitness leadership team. Dorvin brings a distinguished track record of working with some of the world's most respected retailers, and building strong relationships between brands and their franchise owners. His financial, real estate and franchising expertise and experience will be invaluable as we build upon Planet Fitness' continued growth and success," said Chief Executive Officer, Chris Rondeau.

"Planet Fitness is a proven brand with extraordinary potential," said Dorvin Lively. "I am excited for the opportunity to join such a dynamic team and work closely with the brand's franchisees to support Planet Fitness' accelerated growth and momentum."

Planet Fitness today also announced several new appointments and promotions in key functions including legal, operations and development, finance and marketing to enhance its leadership and management teams:

  • Richard Moore has assumed the role of Chief Administrative Officer, in addition to his current position as Executive Vice President & General Counsel, reporting directly to CEO Chris Rondeau. In addition to legal, Moore leads the human resources, information technology and marketing teams with a focus on creating an infrastructure to support the Company's continued growth. Moore joined Planet Fitness in July 2012 from Ropes & Gray LLC, leading Planet Fitness through the sale to TSG Consumer Partners. Moore spent more than five years at Ropes & Gray, focusing his work on private equity transactions, private investment fund formation and public company portfolio management.
  • Bonnie Monahan has joined Planet Fitness as Corporate Treasurer. With a background in finance and franchise support, she is responsible for corporate cash, debt and risk management and franchisee financing and credit review. Prior to Planet Fitness, Monahan served as Chief Financial Offer at Margaritas Mexican Restaurant Group, where she was responsible for finance, tax, human resources and information technology, with a focus on creating an infrastructure to support the Company's franchising initiatives. Previously, Monahan was the Corporate Treasurer at Dunkin' Brands for five years and was responsible for debt, cash and risk management, and helped lead the brand's successful initial public offering. She has also held senior positions at several leading consumer brands including Timberland, Staples, Reader's Digest and PepsiCo.
  • Anna Arico has joined Planet Fitness as Corporate Controller, and is a key member of the management team contributing to the Company's operational, strategic and financial decision making. She is responsible for ensuring that financial reporting is accurate, complete and timely, and provides analysis for key business decisions. Prior to joining Planet Fitness, Arico was a senior financial consultant for Robert Half International. Her previous experience includes various roles at GT Advanced Technologies, Inc. and Diatide, Inc., and she started her career at Ernst & Young LLP. She is also a Certified Public Accountant.
  • Brian Belmont has joined Planet Fitness as Executive Vice President of Franchise Operations and Development, bringing a wealth of expertise in franchise operations, corporate and franchise development, franchise support and communication, market planning and real estate. He oversees the operations and development teams, including franchise operations, sales, real estate and construction. Belmont joined the Company after holding various leadership positions at Quiznos Sub, including Chief Development Officer, Executive Vice President and President of Restaurant Realty. Belmont brings a wealth of knowledge to the team and has more than 20 years of experience in various franchise environments.
  • Jamie Medeiros was promoted to Vice President of Marketing, overseeing the brand's marketing department. She is responsible for brand messaging, national and local advertising, social media, digital strategy, public relations and retail merchandise. Medeiros began her career at Planet Fitness in 2000 when there were four corporate clubs. Her deep knowledge of the brand and marketing expertise has significantly attributed to the awareness of the Planet Fitness brand as the national player it is today.

According to Pierre LeComte, Managing Director at strategic equity firm TSG Consumer Partners LLC, "On behalf of TSG, we are excited to welcome the new additions to Planet Fitness and congratulate those promoted to new roles within the company. Under Chris Rondeau's leadership, the Planet Fitness team has never been stronger, and we are excited to continue our partnership to further build the Planet Fitness brand, support its franchise partners and open new locations."

Currently, there are more than 650 Planet Fitness clubs nationwide and more than 4.5 million members. To find a Planet Fitness near you or to join online, visit www.PlanetFitness.com.

About Planet Fitness Founded in 1992 in Dover, N.H., Planet Fitness is now the fastest-growing full-size health club franchise in the United States, and has revolutionized the industry with a combination of extremely low prices and a unique, friendly, and hassle-free environment called the Judgement Free Zone®.

Planet Fitness has more than 650 locations nationwide and has grown to more than 4.5 million members. The company prides itself on giving people an unbeatable value – top-notch facilities at extremely low prices, and an atmosphere that focuses on the needs of occasional or first-time club members rather than hard-core fitness fanatics. All Planet Fitness clubs feature a wide selection of brand-name cardio and strength equipment, and provide unlimited fitness instruction with all memberships.

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