Former Intercontinental Hotels Group Chief Executive to lead Fitness First

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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