Town Sports International Holdings, Inc. Announces Departure of Chief Executive Officer
NEW YORK--(BUSINESS WIRE)--
Town Sports International Holdings, Inc. ("TSI" or the "Company")
(NASDAQ:CLUB), one of the leading owners and operators of health clubs
located primarily in major cities from Washington, DC north through New
England, operating under the brand names "New York Sports Clubs,"
"Boston Sports Clubs," "Washington Sports Clubs", "Philadelphia Sports
Clubs" and "BFX Studio," today announced that the Company's President
and Chief Executive Officer Dan Gallagher is leaving the Company,
effective June 19, 2015.
Patrick Walsh, Chairman of the Board of Directors, will serve as
Executive Chairman while the Board conducts a search for Mr. Gallagher's
Patrick Walsh stated, "We want to thank Dan for his 16 years of service
to Town Sports International. Dan helped the company navigate through
periods of significant growth and industry change. His leadership
efforts, particularly in finance and operations, are greatly appreciated
by the entire board. We wish Dan all the best in his future endeavors."
"I look forward to partnering with the executive team at TSI as we
continue to focus on our key initiatives to drive sales, effectuate cost
management and increase member satisfaction across all clubs. I am very
confident in the team's ability to seamlessly manage through this
transition," continued Mr. Walsh.
About Town Sports International Holdings, Inc.:
New York-based Town Sports International Holdings, Inc. is one of the
leading owners and operators of fitness clubs in the Northeast and
mid-Atlantic regions of the United States and, through its subsidiaries,
operated 158 fitness clubs as of March 31, 2015, comprising 108 New York
Sports Clubs, 29 Boston Sports Clubs, 13 Washington Sports Clubs (two of
which are partly-owned), five Philadelphia Sports Clubs, and three clubs
located in Switzerland, and two BFX Studio locations. These clubs
collectively served approximately 505,000 members as of March 31, 2015.
For more information on TSI, visit http://www.mysportsclubs.com.
From time to time we may use our Web site as a channel of distribution
of material company information. Financial and other material
information regarding the Company is routinely posted on and accessible
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Town Sports International Holdings, Inc., New York
Joseph Teklits/Elizabeth Schnoerr, (203) 682-8200
Source: Town Sports International Holdings, Inc.
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