CHICAGO, Jan. 11 /PRNewswire/ -- Bally Total Fitness today announced that it has appointed Steven Barnhart as its Senior Vice President and Chief Financial Officer, effective Friday, January 8, 2010. Barnhart will report to Bally CEO Mike Sheehan.
At Bally, Barnhart will be responsible for overseeing the company's financial functions, including the Finance & Accounting, Financial Analysis, Treasury, Purchasing and Risk Management departments, as well as the IT department.
Most recently, Barnhart, age 48, served as Chief Executive Officer and President of Orbitz Worldwide from 2007 to early 2009. Barnhart previously served in a variety of senior financial executive positions with Orbitz, Cendant Corporation and PepsiCo.
"Steve brings to Bally extensive experience in accounting, analytics, strategic finance and the capital markets, as well as a strong technology background. He is exactly what we need from our CFO as we continue to strengthen Bally's financial position, improve our operating model and technology solutions and establish Bally as the most trusted name in fitness," said Mike Sheehan, Bally CEO. "I am thrilled to add Steve to my senior leadership team and look forward to working closely with him."
Barnhart received his undergraduate degree in Economics, as well as his M.B.A., from the University of Chicago.
"It's an exciting time to join Bally. With a healthy balance sheet and a reinvigorated focus on Bally's members, Mike Sheehan and his team are committed to transforming the business and have been making major changes," said Barnhart. "With my background, I believe I can make significant and immediate contributions as a member of Bally's senior leadership team."
Barnhart succeeds Bill Fanelli, who served as Bally's CFO on an interim basis since June 2009. Fanelli will continue in his role as Senior Vice President, Development. In this role, Fanelli will be responsible for implementation of critical growth and expansion initiatives, including new club development throughout the U.S.
Bally Total Fitness operates nearly 300 fitness centers across the United States. With more than 3 million active members and over 30 years of experience, Bally is among the most popular health club brands in America. The professionals at Bally Total Fitness help motivate members to improve their physical health and reach their personal fitness goals with many affordable membership choices - including options with no long-term commitment.
SOURCE Bally Total Fitness