DUBAI: Justin Musgrove has resigned as CEO of Leejam Sports Company, which operates Fitness Time — the Kingdom’s biggest gym chain.
The former CEO of the UK’s Bannatyne Group was hired by Leejam in September 2019 with a remit to grow the brand internationally. But within six months the pandemic had forced the closure of thousands of gyms in the Kingdom and throughout the world.
Leejam said on Monday that Musgrove had resigned “due to personal reasons” with effect from June 10, 2021.
Anthony Craig Elliott, the company’s current chief operating officer will assume the duties of the CEO until a successor has been appointed, the company said in a stock exchange filing.
Leejam’s chairman and board thanked Musgrove for his efforts at the company.
Last month the company reported a net loss of more than SR6.9 million in the first quarter compared to a profit of SR6.2 million a year earlier.
Overall revenues dipped by about a quarter over the period to SR148.5 million, it said.
Total gym memberships, personal training revenues and rental income fell by more than SR49 million as a result of gym closures in the Kingdom from Feb. 5, 2021 to March 6, 2021, it said.