2020 Issue 4 | GearedUp |
Tom Fitzgerald is a relatively recent addition to the PFHQ team , having joined the PF ® family in 2020 as chief financial officer . He holds an MBA in Finance from Indiana University Kelley School of Business , and he earned his bachelor ’ s degree in Finance from the University of Florida . Fitzgerald brings over 30 years of experience in leadership and finance management to the table , having spent years in the retail industry . Fitzgerald ’ s career began at PepsiCo , where he spent time in various leadership roles in finance and planning . Fitzgerald ’ s journey took him through different leadership roles at companies like Charming Charlie Inc ., Sears Canada , Burlington Coat Factory , Bath & Body Works and Liz Claiborne . His most recent role was as CFO and senior vice president of Potbelly Sandwich Works , but the opportunity to work at Planet Fitness ® wasn ’ t one that Fitzgerald wanted to miss out on . Tell us about your career before PF .
I spent my first 16 years at PepsiCo in various Finance roles in the Pepsi and Frito-Lay segments as well as Tropicana , after they acquired the business from Seagrams .
After that , I got into retail and spent the next 16 years in Finance and General Management roles between Bath & Body Works , Burlington Coat Factory , Mexx in Amsterdam , Lucky Brand , Sears Canada and Charming Charlie . Most recently I was at Potbelly Sandwich Works in Chicago .
What inspired you to get into the health and fitness industry ?
I knew a little bit about PF because TSG was an investor in Charming Charlie ,
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Tom Fitzgerald , CFO
and the person from TSG would tell us all about this great brand they had recently invested in . We would get the updates at our quarterly board meetings , right up through the PF initial public offering . Years later , I was very happy at Potbelly , but when the recruiter called and said they were searching for a CFO at PF , it was the one call I did not turn down . Not only was I impressed with the brand and the model , but when I met the team I knew I wanted to join PF .
It is so exciting to work for such a great company whose mission is to help people take care of themselves . The other companies I worked at were great , but their moral purpose was not nearly as inspiring and compelling as PF ’ s .
How does your background in retail translate to the fitness industry ?
There are a lot of common elements in multi-unit brands , whether they are retail ,
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restaurants or fitness . My initial multi-unit training was in specialty retail , where we were very focused on the customer and their brand experience . We wanted our customers to be raving fans and to have an emotional connection with the brand that went well beyond the actual product we sold . I think there are similarities with PF ’ s JFZ and how we connect with our customers that other fitness brands cannot replicate .
One area that is unique at PF , and in our industry more broadly , is the recurring membership model . In some ways , it is simple and straightforward , and in other ways it is incredibly complex .
What are some of your day-to-day responsibilities ?
I work directly with the Accounting and Financial Planning and Analysis teams , and I have responsibility for Internal Audit and Investor Relations , both of which we outsource . Chris , Dorvin and I spend a fair amount of time with our investors and several of the sell-side analysts who cover PF .
There are various projects and initiatives that come up from time to time that I may get involved with as well .
What were your goals for your first year in this position ?
Initially , I wanted to learn the business and build relationships with the team in Hampton , as well as get to know our franchisees . Additionally , I wanted to spend time with my team to understand what they do and how I can support them both individually and collectively . I have an ongoing desire to challenge myself and my teams to find ways to do things more
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