Jack W. Eugster and John K. Lloyd Bring Additional Retail and Healthcare Expertise to BoardCHANHASSEN, Minn., Oct 19, 2009 (BUSINESS WIRE) -- 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 bachelor's 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. Lloyd's 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 bachelor's
degree from Princeton University.
"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.
SOURCE: Life Time Fitness, Inc.
Life Time Fitness, Inc.
Investor Contact:
Ken Cooper, 952-229-7427
ir@lifetimefitness.com
or
Media Contact:
Jason Thunstrom, 952-229-7435
pr@lifetimefitness.com
