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Posted 03 May, 2023

F45 Training Holdings Inc. appointed new CEO

CEO Change detected for ticker NYSE:FXLV in a 8-K filed on 03 May, 2023.


  As previously disclosed, effective as of March 29, 2023 (the "separation date"), Ben Coates stepped down from his role as President and Chief Executive Officer of F45 Training Holdings Inc. (the "Company").  

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Overview of F45 Training Holdings Inc.
Leisure/Arts/Hospitality • Recreational Services
F45 Training Holdings, Inc. engages in the franchising and licensing of the F45 Training brand to fitness facilities in multiple countries across the globe. It operates through the following segments: United States, Australia, and Rest of World. The United States segment includes its operations in the United States and 17 studios in Central and South America. The Australia segment deals with operations in Australia, New Zealand, and the immediate surrounding island nations. The Rest of World segment includes operations in locations other than the United States and Australia. The company was founded by Adam Gilchrist and Robert Deutsch in 2013 and is headquartered in Austin, TX.
Market Cap
$3.90M
View Company Details
F45 Training Holdings Inc. by TradingView
Relevant filing section
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.


As previously disclosed, effective as of March 29, 2023 (the "separation date"), Ben Coates stepped down from his role as President and Chief Executive Officer of F45 Training Holdings Inc. (the "Company"). Mr. Coates continued in his role as a member of our Board of Directors (the "Board") until April 27, 2023, when Mr. Coates notified the Company that he was resigning from the Board effective immediately. Mr. Coates did not serve on any committees of the Board. 


On April 29, 2023, in connection with his resignation from his role as President and Chief Executive Officer of the Company, Mr. Coates entered into a Separation Agreement with the Company, effective as of the separation date (the "Separation Agreement"). Pursuant to the Separation Agreement, Mr. Coates will be eligible to receive the following payments and benefits, subject to certain agreed conditions set forth in the Separation Agreement: (i) payment of Mr. Coates' base salary from April 1, 2023 through July 31, 2023, in the total amount of $500,000 (less applicable taxes and withholdings) paid in a lump sum, and (ii) the vesting of the portion of Mr. Coates' unvested monthly restricted stock unit award granted August 18, 2022 that was scheduled to vest on March 31, 2023, as though Mr. Coates remained employed through such date. The Separation Agreement additionally provides for a general release of claims in favor of the Company, as well as a release of claims against Mr. Coates, subject to certain exceptions. The Separation Agreement also includes customary cooperation, confidentiality and mutual non-disparagement provisions.


The foregoing summary of the Separation Agreement does not purport to be a complete description of the Separation Agreement and is qualified in its entirety by reference to the full text of the Separation Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.