CHANHASSEN, Minn. -- Life Time Fitness, Inc. (NYSE: LTM) announced today that Michael J. Gerend, president and chief operating officer, will leave the Company. The change is expected to be effective May 1, 2009, subject to the finalization of a separation agreement.
“During his tenure, Mike played an instrumental role in building and expanding the strong leadership team we now have in place and, in turn, the growth and performance we have achieved,” said Bahram Akradi, Life Time Fitness chairman and chief executive officer. “As he makes his transition from the Company, I want to thank Mike for his six years of dedicated service and many contributions. Moving forward, the current executive team will assume the responsibilities he formerly held.”
Gerend joined Life Time Fitness in March 2003 after having served as president and chief executive officer of Champion Air. Prior to that, he held numerous senior management positions at Northwest Airlines, Inc.
About Life Time Fitness, Inc.
Life Time Fitness, Inc. (NYSE:LTM) operates distinctive and large, multi-use sports and athletic, professional fitness, family recreation and resort and spa centers. The Company also provides consumers with personal training consultation, full-service spas and cafes, corporate wellness programs, health and nutrition education, the healthy lifestyle magazine, Experience Life, athletic events and nutritional products. As of April 24, 2009, Life Time Fitness operated 83 centers in 18 states, including Arizona, Colorado, Florida, Georgia, Illinois, Indiana, Kansas, Maryland, Michigan, Minnesota, Missouri, Nebraska, New Jersey, North Carolina, Ohio, Texas, Utah and Virginia. Life Time Fitness is headquartered in Chanhassen, Minnesota, and can be located on the Web at lifetimefitness.com. LIFE TIME FITNESS, LIFE TIME ATHLETIC, EXPERIENCE LIFE, and the LIFE TIME FITNESS TRIATHLON SERIES are trademarks of Life Time Fitness, Inc. All other trademarks or registered trademarks are the property of their respective owners.