CEO hunt is underway for Orangetheory and Self Esteem Brands

On February 29, Orangetheory & Self Esteem Brands announced their partnership, and the two fitness companies are now seeking a CEO to head the collaboration. Keep reading below for more details.

We reported earlier this month on the partnership between Orangetheory, an interval-based heart-rate monitoring workout chain, and Self Esteem Brands, a company that has a portfolio consisting of Anytime Fitness, Waxing the City, Basecamp Fitness/SUMHIIT Fitness, The Bar Method, and Stronger U Nutrition. The merger between Orangetheory and Self Esteem brands now represents one of the largest fitness, health, and wellness footprints in the world.

With the merger between Orangethery and Self Esteem Brands into one, they will represent, in total, $3.5 billion in sales across approximately 7,000 locations that span 50 countries and territories across each of the seven continents.

Now, the two companies are seeking a CEO to head the merger. According to Health Club Management, the founders of Self Esteem Brand, Chuck Runyon and Dave Mortenson, will step down from their executive positions and will join a board of directors that will work to grow the new business venture.

The board of the new partnership includes two directors from Roark Capital, an investor, Runyon and Mortenson from Self Esteem Brands, and two from Orangetheory, including current CEO Dave Long and the incoming CEO who has yet to be determined.

Yesterday, a spokesperson for Orangetheory told Health Club Management:

…the organization structure of the new company is still being worked out, and that Dave Long will continue to be CEO of Orangetheory, while also sitting on the board of the new company.

At this time, it’s not clear exactly how Long will work in tandem to whomever the CEO is of the new business. Per Health Club Management:

Long said Orangetheory can see demand for up to 10k locations globally for its concept, echoing the position of Dave Mortensen, who told HCM SEB had the same goal.

Further reading:

• Orangetheory to join Self Esteem Brands in massive merger