Edward Hymes joined Planet Fitness in January. The company doesn’t intend to backfill his role
Planet Fitness president and chief operating officer Edward Hymes has left the fitness giant after just five months with the company.
Hymes left Planet Fitness effective Wednesday, May 31st, the company disclosed in a form 8-K filing.
McCall Gosselin, senior vice president of communications for Planet Fitness, confirmed Hymes’ departure to Athletech News. Gosselin said the company won’t be replacing Hymes with a new hire.
“We wish him all the best in his future endeavors and have made the decision not to backfill his role at this time,” Gosselin said of Hymes’ departure. “We have full confidence in our executive team and believe they are the right leaders to execute against our strategy and drive our business forward.”
Hymes joined Planet Fitness in January and was responsible for leading the gym chain’s primary business segments, U.S. and international franchise businesses, corporate stores and equipment sales.
Before joining Planet Fitness, Hymes was a longtime Shell executive, most recently serving as CEO of the oil company’s Jiffy Lube International division.
Hymes is entitled to severance money from Planet Fitness, the gym chain said.
Investment bank TD Cowen estimated that Hymes will receive a cash payment of around $800,000 in severance benefits. That severance package is comprised of Hymes’ base salary, which was $5750,00, plus a pro-rated cash bonus, the investment bank said in a note to investors.
Planet Fitness has rebounded quite well from the pandemic, with the low-cost gym chain seeing steady membership growth since 2021, particularly among Gen Z customers. After Q1 of 2023, Planet Fitness reported that it had 18.1 million members.
Planet Fitness CEO Chris Rondeau recently said the company is capable of doubling its membership numbers and has been eyeing international markets, particularly Asia, as fertile ground for future expansion.
Hymes was tasked with building an international team to increase Planet Fitness’ global footprint. It’s unknown whether the fitness operator will adjust its plans for international growth as a result of Hymes’ departure.