Life Time Names Erik Weaver Chief Financial Officer
Rhea-AI Summary
Life Time Group Holdings, Inc. (NYSE: LTH) has appointed Erik Weaver as Executive Vice President & Chief Financial Officer, effective August 1, 2024. Weaver, who joined the company in 2004, had been serving as Interim CFO since January 1, 2024. His previous roles include Assistant Controller, Vice President and Controller, and Senior Vice President and Controller. Weaver holds an MBA from Hamline University and a B.S. in accounting from St. Cloud State University.
Life Time's Founder, Chairman, and CEO, Bahram Akradi, expressed confidence in Weaver's appointment, citing his two decades of service and recent performance as interim CFO. The decision was unanimously supported by the Board of Directors after a thorough search process.
Positive
- Appointment of a long-term employee with 20 years of experience at the company to CFO position
- Unanimous board approval for the CFO appointment
- Continuity in financial leadership with the interim CFO transitioning to permanent role
Negative
- None.
News Market Reaction – LTH
In the trading session that priced this news, LTH gained 6.02%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Mr. Weaver joined the Company in 2004 and has served in increasing roles of responsibility, including as the Company's Assistant Controller from 2016 to 2018, as Vice President and Controller from 2018 to April 2022 and as Senior Vice President and Controller, as well as principal accounting officer, since April 2022. As Senior Vice President and Controller, he was responsible for the Company's accounting, financial reporting and tax functions. His financial leadership has played an important role in positioning the Company for growth. Mr. Weaver holds a Master of Business Administration from Hamline University and earned a B.S. degree in accounting from St. Cloud State University.
Commenting on Weaver's appointment, Life Time Founder, Chairman and Chief Executive Officer, Bahram Akradi, said, "I'm pleased to announce Erik as our Chief Financial Officer. He has served the Company well for more than two decades and has excelled most recently while serving as both our Chief Accounting Officer and as our interim Chief Financial Officer. After a thorough search process, our Board of Directors and I unanimously agreed that Erik is the best candidate for this position and our Company. I look forward to his continued financial leadership as part of our executive team."
About Life Time
Life Time (NYSE: LTH) empowers people to live healthy, happy lives through its portfolio of more than 170 athletic country clubs across
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SOURCE Life Time Group Holdings, Inc.