Planet Fitness, Inc. (NYSE: PLNT) has appointed Steve Beard, the Chairman and Chief Executive Officer of Covista, Inc., to its board of directors, bringing the total number of directors to nine. During his tenure at Covista, Beard led key strategic and operational improvements, resulting in a total student enrollment growth and accelerating organic growth across the enterprise. Covista is now America's largest healthcare educator, operating five accredited institutions serving more than 97,000 students and 385,000 alumni.
Beard's appointment is seen as a move to enhance the strength and effectiveness of the board of directors with new perspectives and complementary expertise. With his proven track record of leading and growing high-performing public companies, it is anticipated that Beard's insights will contribute to the continued success of the brand and deliver value for shareholders.
Planet Fitness, founded in 1992, is one of the largest and fastest-growing franchisors and operators of fitness centers in the world. As of December 31, 2025, it had approximately 20.8 million members and 2,896 clubs in various locations globally. The company's mission is to provide a high-quality fitness experience in a welcoming, non-intimidating environment, known as the Judgement Free Zone®. Approximately 90% of Planet Fitness clubs are owned and operated by independent individuals.
The addition of Beard to the board of directors comes at a time when health and wellness are increasingly important, and Planet Fitness continues to be well-positioned as a leader in the fitness category. Beard expressed his admiration for the brand's leadership position in the industry and his commitment to leveraging his expertise to support the brand as it executes its strategy and unlocks value creation opportunities ahead. As a result of these announcements, the company's shares have moved -1.39% on the market, and are now trading at a price of $97.71. If you want to know more, read the company's complete 8-K report here.
