Xponential Fitness, Inc. (NYSE:XPOF) shares are trading higher after the company announced the appointment of Mark King as Chief Executive Officer, effective June 17, 2024.

King will also serve on the company's Board of Directors. King succeeds Brenda Morris, who has been serving as Interim CEO. Morris will continue her role as a board member following the transition.

King brings a wealth of experience in leading global consumer brands and franchise operations. Under his leadership at Taco Bell, he drove significant growth and expansion, overseeing the addition of over 1,400 franchise locations and achieving consistent sales increases.

His previous roles include President of Adidas AG (OTC:ADDYY) North America and CEO of TaylorMade, where he substantially increased market share and sales.

Xponential Fitness stock has lost over 46% in the last 12 months. Investors can gain exposure to the stock via IShares Russell 2000 Growth ETF (NYSE:IWO) and Vanguard U.S. Value Factor ETF (BATS:VFVA).

Price Action: XPOF shares are trading higher by 26.5% at $14.26 at last check Monday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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