Steve Tucker, the CFO of Bally Total Fitness, Chicago, has been appointed as president and CFO of the company, which has increased its focus in the low-price sector of the industry.
Tucker replaces Marc Tascher, who resigned as president and CEO of Bally earlier this year. Tucker will be working in tandem with Bally's leadership team as the company will not be creating a separate CEO role, according to Jodi Wellman, senior vice president of operations for Bally.
Tucker took over the CFO duties last year after serving as vice president of financial planning and analysis. A licensed CPA, Tucker has been with Bally since 1998, serving various roles within the finance department. In 2004, he was promoted from senior director of operational accounting to marketing controller. Prior to joining Bally, Tucker worked for public accounting firm Grant Thornton.
Bally, which sold 171 clubs to LA Fitness in 2011 and 39 clubs to Blast Fitness last year, now operates 43 clubs in four states: New York, New Jersey, Colorado and California, with a primary emphasis in the New York City, Denver and San Francisco markets. The company also operates two franchised clubs in upstate New York and one in Baton Rouge, LA.
Of the current clubs in operation, 27 are Bally Sport clubs, the company's high-value, low-price model in which memberships are $9.99 and $19.99 per month. Tascher helped launch the Bally Sport model at the end of 2012, says Wellman, who credits the model as being "an integral part of our success this year."
"By providing different tiers of clubs within our various markets, we are able to offer members options that suit their fitness needs at affordable price points—the ideal scenario," Wellman tells Club Industry.
Wellman adds Bally does not have plans for expansion but is open to opportunities.