On Mark Mastrovs official last day at 24 Hour Fitness yesterday, the company also let go four additional executives, according to a spokesperson for the company.


 


The departing executives are Tony Bakos, vice president and general counsel; Mike Fineman, vice president; Don Harbich, vice president; and Adam Loew, vice president of new club development.


 


The company released the following statement about the departures: "24 Hour Fitness is dedicated to growing our business and to providing world-class service to our members. As part of this ongoing commitment, we regularly evaluate our resources and organizational structure and make strategic adjustments where necessary. Our recent personnel changes are consistent with these objectives, and we wish our former team members success in their future endeavors. 24 Hour Fitness is proud of its heritage as a leader and innovator in the fitness industry. Our executive team is excited to have the opportunity to lead the company into the next phase of its evolution."


 


Mastrov, who founded 24 Hour Fitness in 1983, resigned two weeks ago as chairman of the board with an effective last day as Jan. 31.


 


In 1983, Mastrov borrowed $15,000 from his grandmother and bought a 10% stake in 24 Hour which was then a 5,000-square-foot club in San Leandro, California before eventually buying out his partner. Today, 24 Hour is the highest-revenue producing company in the industry, serving more than three million members in more than 400 clubs worldwide.


 


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