Planet Fitness names board member Craig Benson as interim CEO, as part of transition plan

Planet Fitness Inc.
PLNT,
-14.24%
announced a leadership transition on Friday, naming board member Craig R. Benson as interim CEO. Benson will replace Chris Rondeau, who will remain on the board and serve in an advisory role through the transition. “As we enter the next chapter of Planet Fitness’ journey, the Board felt that now was the right time to transition leadership,” said Stephen Spinelli, Jr. (Ph.D.), chairman of the board. “In today’s evolving environment, Planet Fitness is continuing to enhance our competitive advantage, capitalize on our size and scale, and drive further shareholder value.” Rondeau had spent 30 years at the company, while Benson has been a board member since 2017. The stock fell 3% premarket and is down 24% in the year to date, while the S&P 500
SPX,
-0.68%
has gained 17.3%.