Mindbody announces new CEO. ‘There is no doubt we will succeed’
For the first time in its history, Mindbody will have a new CEO.
The health and wellness company, headquartered in San Luis Obispo, announced Wednesday that co-founder Rick Stollmeyer will be stepping down as CEO and transitioning over to executive chair on the Mindbody Board of Directors.
The board has already appointed current Mindbody president Josh McCarter as the company’s new CEO.
The changes are all effective on Aug. 1, according to a news release.
“Mindbody has been my career and singular passion for more than two decades, and I am most proud of the entrepreneurs we have helped and the jobs we have created,” Stollmeyer said in the release. “It has been an exciting 20 years, but these are still the early innings for Mindbody and the wellness industry. Enormous growth opportunities lie ahead and those are made even more important and compelling by COVID-19.”
Stollmeyer co-founded Mindbody in his garage in 2001 as a software solution for boutique fitness studios. The company quickly grew and eventually became one of the largest tech businesses in San Luis Obispo County.
Mindbody briefly went public in 2015, but was bought by private equity firm, Vista Equity Partners, for $1.9 billion in 2019.
The company has been hit particularly hard by the coronavirus pandemic, forcing layoffs and furloughs of hundreds of its employees in April.
According to Wednesday’s release, Stollmeyer will continue to participate in the company’s strategic planning and engage in “wellness industry thought leadership” in his new role on the board.
“With Josh McCarter now at the helm, Sunil Rajasekar as president/CTO, and the strongest team in our history, Mindbody is well positioned to expand our leadership in the years ahead,” he added. “There is no doubt we will succeed, and I look forward to supporting the company as executive chair.”
McCarter was previously co-founder and CEO of Booker Software, which Mindbody acquired in 2018.
After the acquisition, he joined Mindbody as chief strategy officer and then later president, according to the release.
“I’m excited to begin the next chapter of my journey here at Mindbody,” McCarter said in the release. “Rick has built something truly special and I think I speak for everyone at the company when I thank him for his exceptional leadership and vision.”
This story was originally published July 8, 2020 at 2:16 PM.
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