Xponential Fitness board removes Geisler from CEO duties, names interim CEO
Xponential Fitness announced that the company's board of directors has appointed Brenda Morris, a member of Xponential's board of directors since 2019, as interim Chief Executive Officer, effective immediately. In connection with Ms. Morris' appointment as Interim CEO, Chelsea Grayson has been appointed Lead Independent director of the board. The board has removed Anthony Geisler from his duties and suspended him indefinitely as CEO, also effective immediately. "The company received notice on May 7 of an investigation by the United States Attorney's Office for the Central District of California. The company previously disclosed an investigation by the Securities and Exchange Commission. The company intends to continue cooperating with the SEC and intends to cooperate with the USAO. The Board has formed a Special Committee of Directors, comprising independent directors Ms. Grayson, Jair Clarke and Jeffrey Lawrence, to investigate these matters," Xponential stated. "The Board has determined that appointing Brenda Morris to serve as Interim CEO is in the best interest of Xponential, its employees, customers, franchisees and shareholders. Over the last five years, Brenda has been a deeply involved Board member as we have pursued Xponential's mission to make health and wellness accessible to everyone. The Board and I have every confidence that Brenda will be an excellent leader during this period and we look forward to working alongside her," said Mark Grabowski, Chairman of Xponential.
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