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.
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Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
Max Mason covers insolvency, courts, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
