Planet Fitness Appoints Former Keurig Dr. Pepper Executive Sudhanshu Priyadarshi as New CFO

By Grace Noto
Published June 25, 2026

Planet Fitness has officially tapped veteran finance executive Sudhanshu Priyadarshi to serve as its next Chief Financial Officer. The appointment marks a pivotal moment for the fitness giant as it navigates a challenging retail environment, seeks to reverse a sluggish start to its membership growth, and attempts to stabilize its long-term financial strategy. Priyadarshi, who previously served as the CFO and President of International at beverage powerhouse Keurig Dr. Pepper, is expected to bring a rigorous, data-driven approach to the gym operator’s balance sheet.

Main Facts: A High-Stakes Leadership Transition

Priyadarshi steps into the role with a mandate to professionalize and scale the financial operations of the fitness franchise. His compensation package reflects the gravity of the turnaround effort: he will receive an annual base salary of $900,000, supplemented by an annual cash bonus target of 115% of his base salary. Furthermore, his long-term incentive award—valued at $4 million—is structured as a balanced blend of 50% restricted stock units (RSUs) and 50% performance share units (PSUs).

This incentive structure underscores a clear board objective: to align the new CFO’s financial success directly with the company’s ability to drive membership numbers and enhance shareholder value. Priyadarshi succeeds Jay Stasz, who departed the company in March 2026. Following Stasz’s exit, the company relied on an interim CFO, placing significant pressure on the leadership team to find a permanent, high-caliber replacement capable of steering the firm through its current growth hurdles.

Chronology: The Road to the C-Suite

The transition in the CFO’s office follows a period of notable volatility at the executive level.

• March 9, 2026: Jay Stasz officially stepped down as the CFO of Planet Fitness. The departure necessitated a rapid search for a successor.
• March – June 2026: The company utilized the services of an interim CFO, leveraging the expertise of a former Planet Fitness executive who returned to the fold on a monthly salary of $250,000. This six-month term provided a bridge while the board conducted a thorough search.
• May 7, 2026: During the Q1 earnings call, leadership acknowledged that membership growth had hit a "slower start than expected," citing misaligned marketing and competitive headwinds.
• June 25, 2026: Planet Fitness formally announced the appointment of Sudhanshu Priyadarshi, effective immediately, signaling the end of the interim leadership period.

Priyadarshi’s career trajectory is marked by significant stints at major consumer-facing corporations. Before his four-year tenure at Keurig Dr. Pepper, he served as the CFO for Vista Outdoor Inc., held a high-level finance position at Flexport, and served as the VP of Finance for Walmart U.S. eCommerce. This diverse background in retail, logistics, and consumer goods is precisely why the board believes he is equipped to handle the complexities of a franchise-based business model.

Supporting Data: Membership Metrics and Fiscal Health

Despite the challenges regarding membership growth, Planet Fitness maintains a robust financial profile. As of the end of the first quarter on March 31, 2026, the company reported approximately 21.5 million members.

The financial results for the first quarter of 2026 painted a complex picture of a company growing in revenue but struggling with efficiency:

• Total Revenue: Rose by nearly 22% year-over-year, reaching $337.2 million.
• Net Income: Reported at $51.6 million, a significant increase from the $41.9 million reported in the same period in 2025.
• Operational Headwinds: Despite the revenue growth, the company noted that its "Black Card" membership tier—a premium service—has faced resistance. Consequently, the company made the strategic decision to pause a planned national price hike to ensure the product remains competitive in a saturated fitness market.

The friction in growth is largely attributed to marketing efforts that failed to resonate with the target demographic, alongside higher-than-expected attrition rates. In a retail landscape where consumer discretionary spending is tightening, the pressure on the CFO to optimize pricing while maintaining brand loyalty has never been higher.

Official Responses and Strategic Rationale

In the official press release accompanying the appointment, the Planet Fitness leadership team expressed strong confidence in their new hire. The company highlighted Priyadarshi’s "breadth of experience in investor engagement, capital markets, international P&L management, and corporate development."

"Sudhanshu’s skillset is closely aligned with the strategic imperatives of the Planet Fitness leadership team," the statement read. By bringing in an executive with deep experience in managing large-scale, international P&L statements, the company hopes to move beyond its domestic growing pains and perhaps explore broader international expansion opportunities that Priyadarshi spearheaded at his previous firm.

The interim CFO, who managed the transition through the difficult Q1 period, noted that the primary goal for the year remains the stabilization of the membership base. The pivot to Priyadarshi is seen as a move to bring "fresh eyes" to the company’s capital allocation strategy, particularly in how it manages its relationships with franchisees.

Implications: The Path Forward

The appointment of Priyadarshi carries several significant implications for the future of Planet Fitness.

1. Re-evaluating the Marketing Spend

One of the most pressing tasks for the new CFO will be to audit the marketing budget. If the previous quarter’s marketing efforts failed to resonate, Priyadarshi will likely implement more rigorous KPIs to track customer acquisition costs (CAC) versus the lifetime value (LTV) of a member. His background at Walmart U.S. eCommerce suggests he may push for a more data-centric, digital-first approach to acquisition.

2. Pricing and Franchise Relations

The decision to pause the Black Card price hike was a defensive measure. Moving forward, the CFO must balance the need for revenue growth with the potential for member churn. As an expert in capital markets, Priyadarshi will likely look for ways to incentivize franchisees to upgrade facilities or enhance service offerings without needing to pass on aggressive price hikes that might alienate the company’s "judgment-free" customer base.

3. Investor Confidence

Following the stock’s reaction to the Q1 earnings call, shareholders are looking for stability. By appointing a CFO with a history of long-term executive success, the board is sending a signal to Wall Street that it has a firm handle on the internal financial controls and is ready to move past the temporary operational blips experienced earlier in the year.

4. International Expansion

Given his experience as President of International at Keurig Dr. Pepper, Priyadarshi may signal a renewed interest in global expansion. While Planet Fitness has historically focused on the North American market, the company’s future growth ceiling may depend on its ability to replicate its high-volume, low-cost model in international territories.

Conclusion

Sudhanshu Priyadarshi enters Planet Fitness at a crossroads. While the company remains a powerhouse in the fitness industry, the challenges of 2026—namely, the cooling of membership growth and the need for more effective marketing—require a sophisticated financial hand. By securing an executive with his specific blend of retail experience and capital market expertise, Planet Fitness is positioning itself to not only stabilize its current trajectory but to potentially unlock new, more efficient ways of managing its massive, 21.5 million-member ecosystem. All eyes will be on his first full quarter in the seat as he begins the process of translating his strategic vision into tangible growth.