F45, the Australian fitness franchise now based in the United States, has appointed early investor Tom Dowd as chief executive, and secured a $US90 million ($134 million) debt facility to help the company reorganise its finances and stem the widespread closure of struggling gyms.

In a major management shake-up, long-time investor and actor Mark Wahlberg has also been elevated to a head of brand role, joining Robert Madore – appointed interim chief financial officer as the Nasdaq-listed F45 searches for a permanent replacement for Australian Chris Payne.