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8-K - FORM 8-K - LIFE TIME FITNESS, INC. | c54129e8vk.htm |
EXHIBIT 99.1
Investor Contact: Ken Cooper 952-229-7427 or ir@lifetimefitness.com
Media Contact: Jason Thunstrom 952-229-7435 or pr@lifetimefitness.com
Media Contact: Jason Thunstrom 952-229-7435 or pr@lifetimefitness.com
FOR IMMEDIATE RELEASE
LIFE TIME FITNESS ELECTS NEW MEMBERS TO BOARD OF DIRECTORS
Jack W. Eugster and John K. Lloyd Bring Additional Retail and Healthcare Expertise to Board
Jack W. Eugster and John K. Lloyd Bring Additional Retail and Healthcare Expertise to Board
CHANHASSEN, Minn. (October 19, 2009) Life Time Fitness, Inc. (NYSE: LTM) announced today that
Jack W. Eugster and John K. Lloyd were elected to its board of directors effective October 13,
2009.
From 1980 until his retirement in 2001, Mr. Eugster, 64, served as chairman, president and CEO
of Musicland Corporation, a retail music and home video company. During his tenure, Musicland grew
from $240 million in annual revenues to $1.9 billion, and 450 stores to more than 1,300, including
multiple retail store concepts and brands. Prior to Musicland, Mr. Eugster held executive
leadership positions with The Gap, Inc. and Target Corporation. He currently serves on the board of
directors of three public companies, including Donaldson Company, Inc., Graco Inc., and Black Hills
Corporation, as well as several privately held organizations and community entities. Previously,
Mr. Eugster also served on the board of directors of Best Buy Co., Inc., The Gap, Inc., ShopKo
Stores, Inc. and Golf Galaxy, Inc. He earned his MBA from Stanford University and bachelors degree
from Carleton College.
Since 1997, Mr. Lloyd, 63, has served as president of Meridian Health, a $1.1 billion, New
Jersey-based integrated health system which encompasses four hospitals and an extensive network of
non-hospital healthcare services, such as hospice care, nursing, rehabilitation, ambulance
services, and physician practice management and support. During Mr. Lloyds tenure, Meridian Health
has evolved into a nationally-recognized health care leader in clinical quality, nursing excellence
and innovative technology applications. Prior to Meridian Health, Mr. Lloyd held executive
leadership positions with Jersey Shore University Medical Center, Modern Health Affiliates, Inc.,
and Episcopal Hospital. He currently serves on the board of directors of QualCare Preferred
Providers and QualCare Alliance Networks, Inc., as well as several other privately held
organizations and community entities. Previously, Mr. Lloyd also served on the board of directors
of Commerce Bancorp, Inc. He earned his MBA from Temple University and bachelors degree from
Princeton University.
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Life Time Fitness Elects New Board Members Page 2
I am pleased to welcome Jack and John to our seasoned board of directors, said Bahram
Akradi, Life Time Fitness chairman, chief executive officer and president. Both are proven leaders
who bring tremendous retail and healthcare experience to Life Time Fitness.
The addition of Messrs. Eugster and Lloyd brings the total number of Life Time Fitness board
of directors members to eight, seven of whom are independent. The Company expects Messrs. Eugster
and Lloyd to be appointed to standing board committees at upcoming meetings of its board of
directors.
# # #
About Life Time Fitness, Inc.
Life Time Fitness, Inc. (NYSE:LTM) operates distinctive and large, multi-use sports and athletic,
professional fitness, family recreation and resort and spa centers. The Company also provides
consumers with personal training services, full-service spas and cafes, corporate wellness
programs, health and nutrition education, the healthy lifestyle magazine, Experience Life, athletic
events and nutritional products. As of October 19, 2009, Life Time Fitness operated 84 centers in
19 states, including Arizona, Colorado, Florida, Georgia, Illinois, Indiana, Kansas, Maryland,
Michigan, Minnesota, Missouri, Nebraska, New Jersey, North Carolina, Ohio, Tennessee, Texas, Utah
and Virginia. Life Time Fitness is headquartered in Chanhassen, Minnesota, and can be located on
the Web at lifetimefitness.com. LIFE TIME FITNESS, LIFE TIME ATHLETIC, EXPERIENCE LIFE, and the
LIFE TIME FITNESS TRIATHLON SERIES are trademarks of Life Time Fitness, Inc. All other trademarks
or registered trademarks are the property of their respective owners.