The Gym Group’s chair of directors will retire with its founder taking over the role
Chair of directors for low cost exercise giant the Gym Group has announced she is retiring, having been at the helm since its IPO in 2015.
Penny Hughes will step down as the chair of The Gym Group board of directors today, with founder and director John Treharne taking over the role.
During her time at the helm, the number of gyms in operation grew by more than three times, from 67 just after IPO to more 2015.
Her successor praised her for bringing growth to the group and her “extraordinary leadership over the last seven years helping the business I founded scale successfully and build the right capabilities for long term growth.”
John Treharne, chair of The Gym Group, added: “I am delighted to now be taking the reins as Chair as we work to deliver our plan to provide affordable fitness to all and deliver £100M EBITDA (earnings before interest, taxes, depreciation, and amortization) by 2025.”
Penny Hughes said it “has been a privilege to chair The Gym Group for the past seven years. It is now firmly established as a market leader with a compelling long term growth strategy in place.”