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Third TSI Executive Resigns

NEW YORK -- Richard Pyle, chief financial officer at Town Sports International (TSI), New York, will resign from that position effective March 31. Daniel Gallagher, senior vice president of finance, will assume the CFO role at that time.

This resignation comes just a week after the resignation of Randall Stephen, former COO at TSI. Stephen’s resignation was effective immediately. In a three-sentence announcement from the company, no reason was given for Stephen’s resignation.

Pyle is resigning to pursue other interests, according to the company’s statement, but he will continue working as a consultant for the company.

“Richard, Dan and I have worked together to ensure that this transition is seamless operationally,” Alex Alimanestianu, CEO since the October resignation of Bob Giardina, who left for personal and health reasons.

TSI is a publicly traded health club company doing business under the brand names New York Sports Clubs, Boston Sports Clubs, Washington Sports Clubs and Philadelphia Sports Clubs.

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