Therabody Makes Jim Allwein CFO as Company Continues Wellness Push
Therabody welcomes Jim Allwein, who has extensive finance, tech and wellness experience, including a long stint as CFO of Atkins
Wellness technology company Therabody has named Jim Allwein as its chief financial officer.
The appointment comes as Therabody expands its product offerings past recovery into everyday health and wellness and a few months after Therabody announced Monty Sharma as president and CEO.
With over 25 years of experience in financial management and extensive experience in finance, technology and health and wellness, Allwein has held leadership positions at Atkins (now Simply Good Foods), Great Brands of Europe/Danone International Brands, Acirca-Walnut Acres, Hitachi America and Vital Nutrients.
For the last four years, Allwein has been a functional advisor at North Castle Partners, a private equity firm that focuses on fitness, health and wellness companies.
During his time as CFO of Atkins from 2006 to 2015, Allwein led the company’s financial turnaround, resulting in double sales, tripled earnings and an eventual sale.
“We are excited to have a proven and experienced executive like Jim join our great team,” Sharma, Therabody’s CEO, said in a statement. “Being an avid user of our products including Theragun, Jim shares our passion to help millions of consumers across the world recover faster, reduce their pain and improve their mobility, sleep and stress.”
The wellness technology company closed a $165 million growth equity round last September as it launched eight new products to broaden its brand to include whole-body health. North Castle Partners led the venture, and existing investors HartBeat Ventures LLC and Aaron Rodgers’ Rx3 Growth Partners also participated.
In April, Therabody and Emily Cole, a Duke University track and field athlete, announced an NIL partnership. As Therabody’s first female NIL athlete, Cole joins an impressive list, as the wellness brand has partnered with other notable athletes such as James Harden, Cristiano Ronaldo and DeAndre Hopkins.
The wellness company’s healing technology has also recently expanded into the garment market with a new offering, RecoveryPulse. The new product was developed after two years of research at Therabody’s laboratory in Los Angeles, where scientists and engineers worked to better understand the benefits of incorporating vibration into compression therapy.
Dr. Jason Wersland, founder of Therabody, told Athletech News last summer that the wellness technology company planned to lean into the mind-body connection, explaining that when examining Therabody’s science, there are frequencies that run through its products that access the mind.
The brand recently received a ringing endorsement from model Karlie Kloss, who prepped for the 2023 Met Gala by using Therabody’s RecoveryAir Jet Boots.
