Planet Fitness Signals Bigger Overseas Push With New CFO Hire

The appointment of Sudhanshu Priyadarshi as CFO and president of international lands months after Planet Fitness stated its ambitions to make foreign growth a priority, with plans to enter 1-2 new markets per year

Planet Fitness has already won the scale game in the U.S. gym industry in terms of membership base and location count, but now the Gen Z-favorite fitness chain has made a formal appointment that shows just how serious it is about its international growth plans.

The high-value, low-price (HVLP) gym giant has tapped former Keurig Dr Pepper executive Sudhanshu Priyadarshi as its new chief financial officer and president of international, effective immediately.

Priyadarshi will oversee the gym giant’s strategy, finance and investor relations and lead its international business, Planet Fitness said, noting his significant global experience in leading multi-billlion-dollar businesses across North America, Europe, Asia-Pacific and Africa.

He succeeds Tom Fitzgerald, who has served as Planet’s interim CFO and will remain as an advisor through mid-September until his planned retirement.

“Planet Fitness has established itself as an industry leader through its brand promise of high-value and accessible fitness for members,” Priyadarshi said. “I look forward to serving as CFO and leading the international business as we look to expand the company’s reach and drive sustainable growth and value-creation.”

The appointment follows Planet’s Investor Day presentation last November, where chief development officer Chip Ohlsson noted the chain surpassed one million members across all its markets outside of the U.S, including Canada, Mexico, Australia, Spain and Panama, with a footprint spanning more than 180 clubs.

The presentation highlighted the chain’s early success in Spain, where it launched its first club in the summer of 2024 and has employed a cluster development approach. 

“Spain is our proof of concept, which furthers our confidence to grow internationally,” Ohlsson said. “Our openings and performance in Australia, Mexico and Spain reinforced the strength of this brand globally overall. When it comes to driving international development, we’re taking a deliberate approach that aligns with our strategic roadmap.”

Planet Fitness is targeting one to two large, scalable markets, he added, with the intent to disrupt the “entrenched competitors.”

“We’re recruiting well-established local groups who understand the market and local expertise, and we’re going into markets where we can grow our brand in a healthy way, not just plant a flag,” Ohlsson said.

The appointment was well-received by TD Cowen, describing the move as, in part, the “dawn of a new era.” In a note written by analyst Max Rakhlenko, the firm characterized the appointment as a positive development that could help stabilize and strengthen Planet Fitness, highlighting Priyadarshi’s strategic thinking and international experience as key assets. The firm is maintaining its Hold rating.

As Planet Fitness looks to bring its “Judgement Free” vibes and budget-friendly offerings to new markets, it’s no secret that other HVLP operators, including those from the former Planet Fitness corporate family tree, are making their own mark. 

Crunch Fitness, EoS Fitness and PureGym are among the standouts accelerating expansion in the U.S., while Justin Grondahl, the son of Planet Fitness co-founder and former CEO Michael Grondahl, has big ambitions himself. He’s set to open Traene Fitness & Pickleball, a mere 600 yards from the first Planet Fitness location in Dover, New Hampshire.