New CEO at GNC

GNC has appointed senior retail industry executive Michael G. Archbold as CEO and member of the board, effective immediately. Archbold replaces chairman, president and CEO Joseph Fortunato, who is leaving the company and has stepped down from the board.



Lead independent director Michael Hines has been elected non-executive chairman.



Archbold has more than 25 years of retail industry experience. He most recently served as CEO and CFO of The Talbots, a leading retailer of women's apparel. But he’s no stranger to the health and wellness industry. Prior to joining Talbots, he served in a variety of senior roles, including president and chief operating officer of nutritional product retailer Vitamin Shoppe.



Before Vitamin Shoppe, Archbold also held senior leadership positions, including serving as CFO, at Saks Fifth Avenue and AutoZone.



"The board is committed to delivering improved financial results and creating value for GNC shareholders and we are pleased that Mike has agreed to join GNC,” Mike Hines, chairman of GNC, said. “He is a world-class executive with highly relevant retail experience and financial expertise, proven leadership skills and a track record of developing strong corporate cultures and delivering superior financial performance. We have tremendous confidence in GNC's prospects and in Mike's ability to lead the company going forward."



Hines also credited Fortunato with leading GNC through a period of “considerable growth, innovation and transformation. “We thank him for his significant contributions to the company and we wish him well in the future," Hines added.



"GNC is an admired industry leader with an iconic brand, strong positions in its core markets, differentiated products, a history of innovation and a loyal customer base. I am honored to lead this organization, and I look forward to working closely with the team across GNC and the board to further strengthen the company's market position and deliver improved financial performance," Archbold said.