Beachbody Names Mark Goldston to Newly Created Exec Chairman Role
Goldston joins The Beachbody Company as Executive Chairman of the Board at a pivotal time for the brand, which recently changed its name
The Beachbody Company, which now does business as BODi, has created a new role to drive transformation and maximize profitability, appointing Mark Goldston to the position of Executive Chairman of BODi’s board of directors.
Goldston will partner with Carl Daikeler, BODi’s co-founder and CEO, to guide the transformation of the fitness and wellness company, driving profitability and unlocking growth opportunities.
The news of the appointment follows a class-action lawsuit recently filed against the company regarding employment practices. The suit criticizes the health and fitness company’s multilevel marketing business model, alleging it exploits California workers.
BODi, pointing to California’s updated contractor law and network marketing distributor exemption, has told Athletech News that it will vigorously defend itself against the allegations.
Goldston, who agreed to receive compensation in the form of options, currently serves as chairman and CEO of The Goldston Group, a firm specializing in strategic advisory services, venture capital and investments. He is also general partner of Athletic Propulsion Labs, a high-end performance athletic footwear company.
As Goldston settles into the new role, BODi confirms the chairman position will be retired, and that Daikeler will continue serving as a director and CEO, remaining BODi’s controlling shareholder.
“I felt strongly about pursuing Mark given his unique skills and experience, and I am thrilled to welcome Mark to BODi as our new executive chairman,” said Daikeler. “I am incredibly grateful that Kevin Mayer, a director on our board and a longtime friend to Mark, introduced us with the vision that the company and its shareholders could benefit from Mark’s capabilities.”
Daikeler added that his goal is to leverage Goldston’s strategic insights, particularly his experience with public companies.
“I believe so strongly in our synergy that in order to get this deal done, I personally forfeited a portion of my shares of the company to help partially offset the equity compensation offered to Mark with his appointment,” Daikeler said.
Goldston said he’s fully committed to maximizing BODi’s business model, helping lead its transformation and monetizing its “significant untapped potential.”
“I am so confident in the company that I have elected to take all of my compensation in the form of options, aligning my interests with shareholders, and I look forward to collaborating closely with Carl, the leadership team, and the entire organization to achieve our shared goals,” he said.
In an earnings call last month with investors, Daikeler classified the first quarter of 2023 as a major transition for the health and fitness company. Daikeler said he was encouraged by data that revealed Google search traffic was up nearly 290% in Q1 over the prior year as consumers have searched for “BODi.”
