After a period of financial challenges and leadership changes, F45 Training is focusing on rebuilding its reputation with the help of a new brand officer—actor Mark Wahlberg.
Key Details
- F45 Training, a fitness company that provides users with 45-minute workouts, has announced actor Mark Wahlberg as its new chief brand officer.
- The company also introduced Tom Dowd as its new CEO.
- Earlier this month, F45 announced a partnership with Wahlberg, highlighting a special called Wahlberg Week, featuring Wahlberg’s favorite fitness routines.
- Wahlberg has made previous investments in the company—notably buying a $450 million stake in 2021.
Why it’s news
Wahlberg has a significant investment in F45, but its stock has taken a considerable dive since its initial public offering in 2021. The company’s current stock price is not publicly available due to F45 failing to file the proper paperwork with the New York Stock Exchange.
“Just like our incredible training community, F45 has been laser focused in recent months on getting stronger, and I am thrilled to help the company elevate its amazing brand and vision at this pivotal time,” Wahlberg says in a company release.
The Hollywood actor’s new partnership comes shortly after the company selected Dowd as its CEO. Wahlberg and Dowd have worked together on projects before, including the supplement brand Performance Inspired.
With new leadership, F45 is expected to adopt a more sustainable business strategy. Former CEO Adam Gilchrist planned for rapid expansion, which ultimately turned out to be untenable for the company, Fitt Insider reports.
The company recently benefited from new financing, including a $90 million debt facility. With the help of new funding, F45 may be able to support long-term growth.
Still, the company has plenty to do before it is back in shape, but Wahlberg’s familiar face as the company’s brand officer may give it the extra push.
