Gym Group PLC (The) Board Changes (5267T)
25 Luglio 2022 - 8:00AM
UK Regulatory
TIDMGYM
RNS Number : 5267T
Gym Group PLC (The)
25 July 2022
25 July 2022
The Gym Group plc
Board Changes
The Gym Group plc ("The Gym Group" or "Company"), the nationwide
operator of 215 low cost, high quality, 24/7 no contract gyms,
announces that Penny Hughes, having served as chair of The Gym
Group Board of Directors (the "Board") since its IPO in 2015, has
notified the Company of her intention to retire from the Board with
effect from today's date. Penny was the chair of the Nomination
Committee, and a member of the Remuneration and Sustainability
committees.
John Treharne, Founder Director of the Company and member of the
Nomination and Sustainability committees, will be appointed Chair
of the Board ("Chair") with effect from the same date. John will
also chair the Nomination Committee.
During Penny's tenure as chair, the business has been
transformed. It has increased the number of gyms by more than 3x
since IPO from 67 to 215 today, with targets for 2025 of over 300
sites with EBITDA of GBP95m - GBP105m.
The Gym Group is making good progress towards those targets and
is trading in line with Board expectations.
John Treharne, Chair of The Gym Group, commented:
"I want to thank Penny for her extraordinary leadership over the
last seven years helping the business I founded scale successfully
and build the right capabilities for long term growth. I am
delighted to now be taking the reins as Chair as we work to deliver
our plan to provide affordable fitness to all and deliver GBP100M
EBITDA by 2025."
Penny Hughes commented:
" It has been a privilege to chair The Gym Group for the past
seven years. It is now firmly established as a market leader with a
compelling long term growth strategy in place. I am delighted to be
succeeded by John Treharne whose position on the Board continued to
provide us with the benefit of his immense network and experience
across the health and fitness sector. I wish John and everyone at
The Gym Group every success for the future."
For further information, please contact:
The Gym Group: via Tulchan Communications
Richard Darwin, CEO
Tulchan Communications:
James Macey White
Elizabeth Snow
Laura Marshall 0207 353 4200
---------------------------
Numis:
Luke Bordewich
George Price 0207 260 1366
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Peel Hunt:
Dan Webster 0207 418 8900
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Market abuse regulation information:
The information contained in this announcement is deemed by the
Company to constitute inside information as stipulated under the UK
version of the Market Abuse Regulation (EU) No. 596/2014 as it
forms part of UK law by virtue of the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement, this inside
information is now considered to be in the public domain. Nadira
Hussein, Company Secretary, is responsible for the release of this
announcement for the purposes of such regulation.
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END
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