Planet Fitness leadership switch could set stage for faster change, says Stifel

After Planet Fitness announced the departure of long-time CEO Chris Rondeau, the appointment of board member Craig Benson as interim CEO, and the initiation of a formal search for a permanent new CEO, Stifel analyst Chris O’Cull said the timing of the announcement was “surprising,” but the adds that the firm believes the leadership transition could “set the stage for a faster pace of change.” Certain elements of the model, such as raising the price of the classic membership, are potentially now on the table for consideration and the firm believes the company should consider other initiatives that could accelerate the pace of development, says the analyst, who has a Buy rating on Planet Fitness shares.