Town Sports International Holdings, Inc. Announces Departure of Chief Executive Officer
Posted: June 18, 2015 in Chains
Town Sports International
NEW YORK, N.Y. – 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 successor.
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.
