A portrait of Colleen Keating.
Courtesy of Planet Fitness
Planet Fitness announced Tuesday that Colleen Keating will take over as the fitness club’s new CEO, effective June 10.
Craig Benson, who has been serving as interim CEO since the departure of Chris Rondeau in September, will remain on the board of directors.
The announcement comes after months of searching, and some analysts are calling it a positive for the stock, despite shares falling more than 3% following the announcement.
Piper Sandler analyst Korinne Wolfmeyer said the news is “the first catalyst of several” for the stock.
“Planet Fitness now has someone who can fully lead the New Growth Model changes, who can instill confidence in potential pricing changes, and can help lay out a plan for the upcoming CFO search,” Wolfmeyer said in a note. “All of which we view as positive drivers of earnings upside and valuation…
