Xponential Fitness Appoints Brenda Morris as Interim CEO

Xponential Fitness, Inc. (NYSE: XPOF) has made significant changes to its leadership, with the appointment of Brenda Morris as the interim Chief Executive Officer, effective immediately. The board of directors removed Anthony Geisler from his duties and suspended him indefinitely as CEO. This decision was influenced by an ongoing investigation by the United States Attorney's Office for the Central District of California and the previously disclosed investigation by the Securities and Exchange Commission. In response to these developments, the board has formed a special committee of directors to further investigate these matters.

Brenda Morris, who has been a member of Xponential's board of directors since May 2019, brings over 35 years of experience in finance, accounting, and operations roles concentrated in consumer products, food and beverage, retail, and wholesale sectors. She has a track record of serving as an interim CEO, COO, and CFO for several companies, executing successful exits, and assisting with leadership transitions.

Despite these changes, Xponential Fitness has reaffirmed its full-year 2024 guidance, originally announced on May 2, 2024, in conjunction with its first quarter 2024 financial results. This reaffirmation indicates the company's commitment to its previously set financial targets for the year.

Xponential Fitness, Inc. is a leading global franchisor of boutique health and wellness brands. The company operates a diversified platform of ten brands across various verticals, including pilates, indoor cycling, barre, stretching, rowing, dancing, boxing, strength training, metabolic health, and yoga. It offers energetic, accessible, and personalized workout experiences led by highly qualified instructors in studio locations throughout the U.S. and internationally.

The appointment of Brenda Morris as interim CEO, the removal of Anthony Geisler from his duties, and the reaffirmation of 2024 guidance are key developments at Xponential Fitness, signaling a new phase for the company under the leadership of an experienced executive. Today the company's shares have moved -31.4% to a price of $8.48. For more information, read the company's full 8-K submission here.

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