U.S.-based global fitness subscription technology company iFIT, Inc. has a new chief executive in Kevin Duffy, effective immediately. His appointment follows the hiring of Dale R. Gerard as chief financial officer and Andy Donkin as chief customer officer in June and August 2022, respectively. The search for a new CEO had taken about seven months after private equity investors L. Catterton and Pathlight Capital forced out iFit’s former CEO and co-founder Scott Watterson.
Duffy has nearly 25 years of experience, including two decades leading branded technology companies. He most recently served as CEO and director of Sound United, a consumer electronics company and owner of several premium audio and home entertainment brands, including Bowers & Wilkins and Denon. Duffy joined Sound United in 2003 and prior to serving as CEO, he held a variety of roles at the company, including CFO while it was publicly traded on NASDAQ. During his time at Sound United, the company experienced over 8x revenue and earnings growth while executing 10 acquisitions, an IPO, two dividend recapitalizations and a go-private transaction. Duffy was previously a board member at Octo Telematics North America, a usage-based telematics insurance provider, and held senior roles at a portfolio company of Think Tank Holdings and Clarion after joining Deloitte.
“As we look ahead, Kevin’s leadership will be instrumental in supporting the execution of iFIT’s mission of improving the fitness and well-being of our members through best-in-class services and experiences,” said Marc Magliacano, chairman of iFIT’s board of directors and a managing partner at L Catterton. “With the support of Dale and Andy, we are confident that Kevin is the right person to lead the company forward into its next phase of growth.”
iFIT includes several industry brands, including NordicTrack, ProForm, Sweat, Freemotion, Weider and 29029, which are built on iFIT’s integrated health and fitness platform that seamlessly combines proprietary software, experiential content and interactive hardware. Headquartered in Logan, Utah, with offices in Paris, Shanghai, Sydney and Leeds, the company provides immersive, customizable, personalized training experiences for every fitness level and interest, and currently has a growing community of more than 7.7 million end users as members over 120 countries.
