The British fitness and sports clothing brand Gymshark promoted Rich Sanders with immediate effect to the new Chief Financial Officer (CFO).
Sanders, previously strategy director and interim CFO of the company, reports directly to founder and CEO Ben Francis in this role and will continue to work from the headquarters in Solihull. He succeeds Mathew Dunn, who had resigned from his post in 2024.
As a CFO, Sanders will ensure that GymShark’s sustainable growth will ensure, increase sales and profit margin and “invest in the right areas”, according to a message.
Sanders came to Gymshark in March 2021 as Head of Corporate Finance after working at Price Waterhouse Coopers for eight years. In October 2023 he became a strategy director at Gymhark, and since November 2024 he acted as an interim CFO.
Sanders said to his new role: “In the past four years I have had the privilege of experiencing the outstanding growth of Gymhark up close. I am always impressed by how strong the basics of this company are – the best products and the best brand.”
“It was only last weekend that I took part in our latest Gymhark event with over 14,000 members of our community, which once again showed me significantly in mind,” said Sanders. “The connection with Gymshark is unique. Taking over the management of our financial activities in order to raise the company to the next stage is therefore a challenge that I really appreciate.”
The new CFO is supposed to continue the growth of the brand
In the past five years, Gymshark has been able to increase its turnover from £ 607 million (702 million euros) and expand the global reach. The company opened a headquarters in the USA and flagship stores in London, Amsterdam, Dubai and Manchester. The first permanent US flagship store in New York City will soon be opened.
Company boss Ben Francis explained the ambitions: “Gymshark begins the next chapter in his history: We open up further shops, continue to work with a first -class supply chain to develop the best possible product and become completely global,” he said in one statement. “To get there, we need a CFO with resilience, ambition and sensitivity.”
“Since Rich came to us, he was not only significant in the development of our financial department, but also invaluable to define the vision for Gymhark,” said Francis. “Of course we have carried out careful exams to ensure that we found the right person for the position of the constant CFO. However, his understanding of the brand, his leadership qualities and his financial ingenuity made him an outstanding candidate.”
He was “very proud that we were able to make this appointment from our own ranks of Gymshark,” emphasized the CEO. “I can hardly wait to see what he brings into his role as we pursue our goal of becoming a unique brand with a 100-year history.”
This article was used with digital tools translated.
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