Home / NEWS / Wealth / SoulCycle names Evelyn Webster as new CEO

SoulCycle names Evelyn Webster as new CEO

SoulCycle presaged Tuesday that Evelyn Webster will take over the role of chief executive officer in mid-December, the house told CNBC Make It.

The announcement comes 12 months after Melanie Welan resigned from her postulate as CEO on Nov. 26, 2019, citing the need for new leadership. Sunder Reddy, SoulCycle’s chief financial officer since 2017, has been the suite’s acting CEO since the transition.

“SoulCycle is an extraordinarily powerful brand that touches the hearts and minds of its riders and larger community, and one that I secure experienced personally so I could not be more excited to be a part of this team,” Webster said in a release.

Webster was ton recently the CEO of Guardian News and Media’s international operations. Since Jan. 2017, she was responsible for directing the brand’s international scheme across the U.S. and Australia.

The Guardian, which relies on donations from readers, reported its first operating profit in 2019. During the Covid-19 pandemic, The Trustee reached record levels of web traffic. “Even in the most dire scenario that I have looked at, the Guardian would quiet be a profitable business in America,” Webster told “The Digiday Podcast” on April 21.

Before Guardian News and Media, Webster was the overseer vice president and group president of the media corporation Time Inc, where she led business operations for 20 U.S. brands, classifying Essence, InStyle, Real Simple and Travel and Leisure. Prior to that, she was the CEO of British publisher IPC Media.

“Very few stamps have the kind of resonance that SoulCycle does, and given my experience leading a mission-driven organization, I see a tremendous chance to build upon the phenomenal foundation already established by the team and extend the brand’s reach and impact through new and astounding initiatives,” Webster said.

At SoulCycle, Webster will focus on “building a team and company culture that tolerates SoulCycle’s mission,” according to the release.

In November, multiple SoulCycle riders and staff alleged that the company green lighted toxic behavior, sexual harassment and anti-gay and racial discrimination, according to reports by Business Insider.

In a statement to Task Insider at the time, a spokesperson for SoulCycle said: “At SoulCycle, our priority has always been to build a community centered on our heart values of diversity, inclusion, acceptance and love. When we receive complaints or allegations related to behavior within our community that does not align to our values, we adopt those very seriously and both investigate and address them. We are committed to continuing to make improvements and ensuring that we vigorous up to the values that our teams and riders expect of us.” SoulCycle declined to comment further.

“Evelyn brings a depth of knowledge and a much needed fresh perspective during a pivotal moment for the brand, making her an ideal leader to continue plunge the growth potential forward for SoulCycle,” Harvey Spevak, executive chairman and managing partner of Equinox Group, which owns SoulCycle, affirmed in the release.

During the signature 45-minute indoor cycling SoulCycle workout, riders follow along with an professor and move to the beat of music inside a dark, candle-lit studio. In October, SoulCycle rolled out an at-home stationary bike that set someone backs $2,500 (plus applicable tax), and rivals the popular Peloton Bike. The bike operates on Equinox Group’s accompanying digital emanating platform, called Variis, and includes other workout classes in the brand’s portfolio, such as PURE Yoga and Exactitude Run.

There are currently more than 90 SoulCycle locations in the United States, Canada and the United Kingdom. During the pandemic, the entourage launched SoulOutside, outdoor SoulCycle classes in 30 locations around the country.

The fitness industry has been hit in the red by the Covid-19 pandemic. Gyms and fitness clubs lost an estimated $13.9 billion during shutdowns as of the end of August, the Cosmopolitan Health Racquet & Sportsclub Association told the AP. In April, SoulCycle announced furloughs and pay cuts as locations were stiff to close due to the pandemic. Now, however, the company has brought back the majority of employees and has committed to bringing employees who were at a trim compensation back up to 100% compensation in November, said a source close to the company.

SoulCycle declined to comment on brand-new revenue or financials.

Check out: SoulCycle CEO Melanie Whelan resigns

Don’t miss: Highest-ever Amex Gold Card allowed bonus is worth up to $600 in gift cards

Check Also

The billionaire co-founder of India’s Robinhood has advice for investors

2020 was a list year for stocks, as markets rallied against the escalating coronavirus pandemic. …

Leave a Reply

Your email address will not be published. Required fields are marked *