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Former Intercontinental Hotels Group Chief Executive to lead Fitness First

Former Intercontinental Hotels Group Chief Executive to lead Fitness First
May 10, 2012

The United Kingdom headquarters of Fitness First has announced that Andy Cosslett, the former Chief Executive of Interncontinental Hotels Group (IHG) will be taking on the role of Managing Director for the fitness club chain.

Cosslett led IHG's expansion into China and has previously served as President of Cadbury's Europe Middle East and African business. Cosslett will replace Chief Executive Chris Stone who only took the Chief Executive's job at Fitness First in February.

Cosslett will be tasked with reviving Fitness First's financial health at the same time as expanding the fitness club chain.

Given his public company experience - he led IHG for six years - it is thought he may also be charged with an eventual stock market float for the company, which was taken off the public markets in 2003 as part of a buy-out led by Cinven.

Stone was drafted in to lead the financial restructuring of the company, which needs to be completed by the end of this month. The restructuring was the result of a downturn in company performance, and came despite plans early in 2011 for a float.

Fitness First is the largest privately owned health club group in the world with over 540 Fitness First clubs worldwide reaching over 1.7 million members in 21 countries.

14th February 2012 - MANAGEMENT CHANGES AT FITNESS FIRST’S UK BASE 

14th September 2011 - MEMBERSHIP, PROFITS FALL AT FITNESS FIRST

16th April 2011 - PETE MANUEL TO HEAD FITNESS FIRST AUSTRALIA  


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Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

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