Life Fitness, a global leader in commercial fitness and home recreation equipment, has announced the appointment of Paul Stoneham as Chief Executive Officer, effective immediately.
Mr. Stoneham is an experienced CEO with a notable track record of building strong consumer brands, high performance organizations and companies that deliver industry-leading growth through brand investment, product design and innovation.
As chief executive, Mr. Stoneham has led three global consumer businesses and achieved successful exits by delivering market leading growth across different industries: most recently and for the past six years, Helly Hansen AS, a technical outerwear company, GHD Group Holdings in professional haircare and Boots Healthcare International in consumer healthcare. He began his career in consumer products at Procter & Gamble, and was President of Global Business Development at Colgate-Palmolive, leading the global categories. He holds an MBA from Harvard University, and a BA in Sociology from the University of Western Ontario in Canada.
“The fitness sector is undergoing a phase of rapid transformation, driven by technological innovation and shifting consumer expectations, all on the back of an unprecedented period of disruption,” Mr. Stoneham said. “As a global fitness leader, Life Fitness has the brand strength, team and infrastructure to drive innovation and provide everyone from professional athletes to new gym users an unparalleled experience. I am excited to be joining such an experienced team and look forward to building on Life Fitness’ deep brand heritage and reputation.”
Stoneham replaces departing CEO Chris Clawson, who served as president of Life Fitness from 2010 to 2017, and then CEO from July 2019 to November 2021. According to a report by Club Industry, the change was initiated by the board of directors who felt the time was right for a change in leadership as the fitness industry rebounds from COVID.