Leeds-based PureGym Group has announced changes to its senior management team which include a change of role for CEO Humphrey Cobbold, who will become chair, and the appointment of Clive Chesser as CEO.
Chesser is currently CEO of Punch Pubs & Co, one of the UK’s largest pub companies. The changes will be effective from November 6, 2024, when Chesser will join the group’s board.
PureGym Group is jointly owned by private equity firm Leonard Green & Partners, KKR and over 100 members of the company’s management team. The firm said recently its underlying earnings grew 26.2% to £231.5 million in 2023 as revenues grew 15% to £549 million.
“Humphrey joined PureGym as Chief Executive in January 2015 and has driven the Group’s transformation from disruptive new market entrant to a clear market leader in the UK and onwards to being a significant international player,” said PureGym.
“After 10 years as CEO, he – with the full support of the Board – has decided to transition to a different role which will see him still making a significant contribution to the business while handing over Executive responsibility to Clive.
“The Board is delighted to have secured someone of Clive’s calibre and experience to join the Group.
“As well as his obvious credentials in multi-site leisure and hospitality, Clive brings significant experience from international development and franchising and is a seasoned executive and leader within the private equity arena.”
Cobbold said: “It has been the stand-out privilege of my career to have guided PureGym through its development over the past 10 years.
“Working with an extraordinary group of colleagues we have succeeded in building a business from around 60 sites to over 600 now spread across six countries.
“We have enjoyed the highs of 10x growth and transformative M&A deals and managed the lows of a global pandemic (which saw us receive zero revenue for most of 12 months!), a cost-of-living crisis and many smaller challenges.
“PureGym is a business with a remarkable culture and a big heart driven by our dual mission to make Everybody Welcome and to Inspire Healthier Nations wherever we operate.
“I am hugely grateful to my colleagues who make this mission a reality every day through their efforts and relentless commitment. The Board and I are delighted to have secured Clive as our next CEO, after an extensive international search.
“He has the perfect skill set to guide us on the next exciting stage of our growth journey and I am really looking forward to working with him in my new role as Chair.”
Chesser said: “I am thrilled to have been offered the opportunity to run such a brilliant business. I have long admired PureGym for its clearly defined purpose-driven mission to inspire healthier nations, with inclusivity at its heart.
“It is truly a great British business success story, and Humphrey and the team should feel immensely proud of their achievements to date.
“It is a really exciting time to be joining the Group, and I very much look forward to helping the business achieve further success, both domestically and internationally.”
Kris Galashan, partner at Leonard Green, majority equity owners, said: “Humphrey has been an exceptional CEO of the PureGym Group, and he is a large part of why we invested in the business back in 2017 and have remained so supportive of the business over the last few years – not all of which have been easy or straightforward.
“As investors we are delighted that Humphrey will remain closely involved with the Group and are really pleased to have secured Clive as the new Group CEO.
“Clive brings great experience in international development and franchising from his time at Häagen-Dazs and as a true leader in the pub industry.
“Alongside Group CFO Alex Wood and Rebecca Passmore Group COO, he joins an exceptional business leadership team who are primed to deliver further growth and success.”
PureGym has over two million members across more than 600 gyms globally. It has corporate owned gyms in the UK, Denmark, Switzerland and the US — the latter under the Pure Fitness brand — in addition to 20 sites operating with a franchise partner in Saudi Arabia and the UAE under the PureGym Arabia brand .
PureGym was launched in 2009 by serial entrepreneur Peter Roberts. Typically, its members pay monthly and have no contractual commitment. Many of its gyms are open 24/7.
As of March 31, 2024, PureGym had 380 gyms in the UK, 163 gyms in Denmark, 45 gyms in Switzerland, three gyms in the US and 20 franchise gyms in the Middle East.
Before taking on the leadership of Punch Pubs & Co, Chesser held senior positions with Greene King Pub Partners and Brewing & Brands, Ei Group, Haagen-Dazs and SSP.
Chesser is a keen runner, having completed several marathons raising money for Macmillan Cancer Support.
Chesser is married with three children, has a degree in politics, and an MBA from the University of Leicester.