2026-03-16 20:54:19
Planet Fitness Appoints Harmit Singh to Board of Directors, Expanding Board to Ten Members
Expected Stock impact: Slightly Positive
On March 16, 2026, Planet Fitness, Inc. (NYSE: PLNT) announced the appointment of Harmit Singh as a new member of its Board of Directors, effective immediately. This decision increases the size of the Board from nine to ten members. Singh, who currently serves as the Chief Financial and Growth Officer at Levi Strauss & Co., brings over four decades of experience in global commercial and financial leadership. His extensive background includes significant roles at Hyatt Hotels Corporation and Yum! Brands, where he held various senior financial leadership positions. Singh's appointment is seen as a strategic move to enhance the Board's financial, strategic, and operational expertise, aligning with Planet Fitness's mission to deliver long-term value to its shareholders. The Board has determined that Singh meets the independence standards set by the New York Stock Exchange, ensuring that he is well-qualified to contribute to the governance of the company. Singh will serve as a Class III director, with his term set to expire at the company's 2027 annual meeting of stockholders. He will participate in the company's standard non-employee director compensation program, receiving an equity award of 263 restricted stock units valued at approximately $19,804, which will vest at the next annual meeting or one year from the grant date. This appointment is expected to positively impact the company's governance and strategic direction, reflecting a commitment to enhancing the member experience and driving growth.
