Tobi Pearce is leaving his job as chief executive of $400m fitness empire Sweat

Adelaide rich-lister Tobi Pearce is leaving the $400m Sweat fitness empire he built alongside celebrity trainer Kayla Itsines. So what’s he doing next?

Sweat co-founder Tobi Pearce has announced he is leaving the digital fitness empire he built alongside celebrity personal trainer and ex-partner Kayla Itsines.

The move comes less than a year after the pair sold the business for about $400m to US software giant iFIT Health & Fitness.

Pearce, 29, has been chief executive since the sale last July, while Itsines has remained the face of the brand.

His departure brings to an end one of South Australia’s most successful business partnerships, which dates back to 2015 when the first version of their app was released.

It has grown to become one of the world’s largest digital fitness platforms, with a global following of more than 55 million women across its social media platforms.

Tobi Pearce, 29, will step down as CEO of Sweat.

Pearce, who will remain an adviser to Sweat, said it was the right time to leave the company after a “life-changing experience” full of “incredible people, memories and achievements”.

“There’s a lot of joy and pride and coupled with that sadness as well,” he said.

“As part of the transaction that we were able to complete last year with iFIT, it was agreed that I would continue to do certain things to set up the business for success in the future – those things we’ve pretty much achieved.”

Pearce and Itsines, both personal trainers, shot to fame after forming the Bikini Body Guide fitness program in 2015.

It evolved into Sweat, the top-ranking home fitness app which has become one of the world’s largest digital fitness training platforms for women. It has been downloaded more than 30 million times.

Pearce said he was “open to all opportunities in the future”, but his short-term focus would be on helping other entrepreneurs grow their own ventures.

“I have, for quite a long time, been super passionate about business, and over the last couple of years it’s really ignited my passion about supporting other founders,” he said.

“Not only investing, although that will be a part of it, but also sitting alongside founders and helping them through the trials and tribulations of growing and scaling a business.

“I’m also excited about spending more time with the people that are dear and close to me, and that includes my daughter Arna first and foremost.”

Kayla Itsines will remain the face of Sweat following Tobi Pearce’s departure.

Pearce’s story is one of rags to riches. He often spoke of his difficult upbringing in Kangarilla, and how he left home at 16, experienced homelessness and for a while lived in a tin shed.

On Friday he reflected on a whirlwind few years, which started as one-on-one personal training sessions in Itsines’ backyard in Adelaide’s eastern suburbs, and went on to become a global brand attracting millions of fans and sell-out boot camps in stadiums across the world.

“The single biggest highlight that I take pride in along the journey is that Sweat was able to make such a significant contribution to so many people all over the world in terms of their health,” he said.

Pearce and Itsines split in 2020 following the birth of their daughter Arna.

Pearce’s $2m Beaumont home will be up for auction on Saturday, but he insisted he would remain in Adelaide to be close to Arna, who turns three in May.

Pearce will be replaced as chief executive by Adam Koch, who has been Sweat’s chief operating officer for the past three years.