Xponential Fitness drops after board suspends CEO

Xponential Fitness

10/05/2024 20:40

** Shares of Xponential Fitness  XPOF.N  down 35% at $8.04
in afternoon trading
    ** Co says board has removed Anthony Geisler from his duties
and suspended him indefinitely as CEO, effective immediately
    ** Co appoints Brenda Morris, a member of XPOF's board of
directors, as Interim CEO, effective immediately
    ** XPOF discloses investigation notice received on May 7,
from the United States Attorney's Office for the Central
District of California ("USAO")
    ** Co said in December it had been contacted by the
Securities and Exchange Commission to provide certain documents
    ** Adds, it intends to continue cooperating with the SEC and
USAO
    ** XPOF says the board has retained a leading executive
search firm to help find a new CEO
    ** XPOF maintains annual forecast of 550 new studio
openings, $1.710 bln in system-wide sales, announced during Q1
results
    ** In 2023, stock fell nearly 44%
    

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))