Life Time President and Chief Financial Officer Tom Bergmann is retiring Dec. 31, according to Life Time Group Holdings Inc., Chanhassen, Minnesota.
The company has named Robert Houghton as executive vice president and CFO effective Aug. 28. Bergmann relinquished his CFO role concurrent with Houghton's hiring and will remain president to support the transition through the end of 2022.
Bergmann joined Life Time in February 2016 as president and CFO. He led significant equity and debt transactions for the company, including minority equity investments, multiple debt capital market transactions and the October 2021 initial public offering, according to the announcement.
Houghton has experience in finance, financial planning and analysis (FP&A) skills and senior leadership experience. Since May 2020, he has been serving as senior vice president – finance at United Natural Foods Inc. (UNFI), a North American distributor of natural and conventional grocery and non-food products. While at UNFI, Houghton led the strategy, development and execution of enterprise-wide FP&A, investor relations, financial systems, finance integration and business continuity programs. From 2018 to April 2020, he served as vice president – corporate finance and treasurer and vice president – investor relations for C.H. Robinson, a global third-party logistics company. Between 1993 and 2018, Houghton held finance leadership roles with Sherwin-Williams, Valspar, General Mills and International Paper Company.
In the announcement, Bahram Akradi, Life Time founder, chairman and CEO, thanked Bergmann for his leadership and contributions as a member of the executive leadership team.
“I'm very grateful for his partnership, particularly as we returned to the public market last year and navigated our way through the significant impact of the pandemic,” Akradi said.
Akradi welcomed Houghton to the company.
“With his proven track record in financial leadership and FP&A expertise, I look forward to the impact he will have in guiding our finance functions as we continue to build our highly coveted healthy way of life company and brand with unwavering commitment to serve members and shareholders," he said.