FRANKLIN-PARK, Ill., November 16, 2021 / PRNewswire / – Life Fitness, the global leader in commercial fitness and home relaxation equipment, is pleased to announce the appointment of. to announce Paul Stoneham as Chief Executive Officer with immediate effect.
Mr. Stoneham is a seasoned CEO with a remarkable track record of building strong consumer brands, high performing organizations and companies that achieve industry-leading growth through brand investment, product design and innovation.
As Chief Executive, Mr. Stoneham has led three global consumer goods companies and achieved successful exits through market-leading growth in various industries: most recently and for the past six years, Helly Hansen AS, a technical outerwear company, GHD Group Holdings in professional haircare and Boots Healthcare International in the field Consumer Healthcare. He began his career in consumer goods at Procter & Gamble and was President of Global Business Development at Colgate-Palmolive, where he led the global categories. He has an MBA from Harvard University, and a BA in Sociology from the University of Western Ontario in Canada.
“The fitness sector is experiencing a period of rapid change, driven by technological innovation and changing consumer expectations, all in an unprecedented period of upheaval,” said Stoneham. “As the world’s leading fitness company, Life Fitness has the brand strength, the team and the infrastructure to innovate and deliver an unparalleled experience for everyone from professional athletes to new gym users. I am excited to be part of such an experienced team and look forward to building on the deep brand heritage and reputation of Life Fitness. “
The company thanks the outgoing CEO Chris Clawson for his many years of service at Life Fitness and wishes him all the best in his future endeavors.
About Life Fitness
Life Fitness is the world’s leading provider of commercial fitness and home relaxation equipment. The company manufactures and sells its strength and cardiovascular equipment, pool tables and accessories, and game room furniture through its iconic family of brands that include Life Fitness, Hammer Strength, Cybex, ICG®, SCIFIT and Brunswick Billiards. The devices are sold in over 250,000 fitness facilities in more than 160 countries around the world. Life Fitness is headquartered near Chicago, in Franklin Park, Illinois. Life Fitness is a KPS portfolio company. For more information on the Life Fitness family of brands, please visit http://www.lifefitness.com.
About KPS Capital Partners, LP
KPS Capital Partners, LP (“KPS”), through its affiliated administrative units, is the manager of KPS Special Situations Funds, a family of investment funds with approx $ 13.5 billion of managed assets (as of June 30, 2021). For nearly three decades, KPS partners have worked solely to achieve significant capital appreciation by making controlling interests in manufacturing and industrial companies in a variety of industries including basic materials, branded goods, health and luxury products, automotive parts, capital equipment and general Production. KPS creates value for its investors by working constructively with talented management teams to improve businesses and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies rather than relying primarily on financial leverage. The portfolio companies of the KPS funds currently generate a total annual turnover of approx $ 14.4 billion, operates 164 production sites in 26 countries and employs around 41,000 people directly and through joint ventures worldwide (as of: June 30, 2021, pro forma for recent acquisitions and exits). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.
Media contact:
Edelman for Life Fitness
Ainsley Sheikali
E: [email protected]
T: +1 239 293 3085
SOURCE Life Fitness
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http://www.lifefitness.com
