F45 Names Tom Dowd as CEO & Mark Wahlberg as Chief Brand Officer
The new appointments by F45 are meant to take the fitness franchise to the next level
Global fitness franchisor F45 Training has announced the appointment of health and wellness veteran Tom Dowd as CEO, and has elevated brand ambassador and board member Mark Wahlberg to Chief Brand Officer.
The latest leadership changes are meant to accelerate F45’s strategy and take the fitness company to the next level, working alongside the recent announcement of F45’s $90 million in new financing.
Dowd’s position as CEO is effective immediately, confirms F45. He succeeds F45’s interim CEO, Ben Coates, who will remain on the company’s Board of Directors. The new F45 CEO comes to the fitness franchise with 25 years of executive leadership experience at GNC Holdings and recently co-founded Performance Inspired, an active lifestyle nutrition company.
F45 confirms that Dowd is one of the early investors in the fitness franchise.
“Tom has significant experience building successful franchise model and consumer goods businesses, cultivating globally resonant lifestyle brands, and developing high-performing teams, making him well suited to lead F45 into the future,” said Gene Davis, Chairman of F45’s Board. “We are delighted to bring Tom onboard to help further refine F45’s go-forward business strategy to deliver sustainable growth, enhance opportunities for our franchisees and team, and drive long-term value for shareholders.”
Dowd remarked that F45 is a game-changer in the fitness industry and that he is energized to be named CEO.
“The Company is differentiated by its strong brand, dynamic and innovative programming, and a robust franchisee network – all of which I am confident will remain the cornerstones of our future success,” Dowd said. “I look forward to collaborating with the talented and passionate F45 team, as well as the Board, to take the business and brand to the next level for the benefit of all of our stakeholders.”
Actor-producer-entrepreneur Mark Wahlberg, an F45 investor and brand ambassador, has also been named Chief Brand Officer. Wahlberg will assume the position effective immediately.
“Just like our incredible training community, F45 has been laser focused in recent months on getting stronger and stronger, and I am thrilled to help the company elevate its amazing brand and vision at this pivotal time,” said Mr. Wahlberg. “I am confident in our ability to enhance what I believe is already the world’s best workout for studio operators and our more than 300,000 committed members across the globe.”
“We are thrilled that Mark will be deepening his involvement with F45 and look forward to benefiting from his unique blend of business acumen and branding expertise,” remarked Davis. “I am confident that under the leadership of Tom, Mark, and the rest of the management team, F45 will be poised to build on its strengths while evolving to unlock its full potential. As we look ahead to the significant opportunities in front of us, I would also like to thank Ben for his contributions as interim CEO during a period of transition.”
F45’s leadership news comes after the functional fitness franchise announced that it would delay the filing of its 2022 annual report and would revise its 2023 report with its 2022 filing.
The fitness company said that previously disclosed transitions in its executive leadership team, including the recent appointment of its Interim Chief Financial Officer, have contributed to the Annual Report’s late filing. F45 stated it expected to file the report within the fifteen-day extension period provided.
The fitness brand has been hard at work revamping F45, appointing four new independent directors to its board, and announcing a year-long brand campaign, “No One Trains Alone,” the first of its kind for F45.
The functional fitness company also opened its first studio in Hilton Downtown Austin this February, pushing into wellness tourism and hospitality. The fitness facility, located on the 8th floor of the hotel, serves as Austin’s exclusive F45 training studio. The brand has also opened two 45-minute fitness centers on South Street and Washington Square West in Philadelphia.
Most recently, F45 collaborated with streaming giant Netflix to celebrate the launch of the new series “Wellmania,” which included a special one-day workout at various F45 locations.
