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Subject: PER

Mindbody Announces New Leadership Appointments

SAN LUIS OBISPO, Calif., July 8, 2020 /PRNewswire/ -- Mindbody, the leading technology platform for the wellness industry, today announced that the company's co-founder Rick Stollmeyer is transitioning from the role of chief executive officer to executive chair and that the Mindbody Board of Directors has appointed current president Josh McCarter to CEO, effective August 1, 2020. McCarter is an experienced leader as the co-founder and former CEO of Booker Software, a cloud-based spa and salon business management company that Mindbody acquired in 2018. After the acquisition, he joined Mindbody as chief strategy officer and was elevated to president the following year to support the company's growth.

Rick will continue to serve on the Mindbody board, participate in the company's strategic planning, and engage in wellness industry thought leadership. Stollmeyer's forthcoming book, "Building a Wellness Business That Lasts," is expected to release this fall, providing actionable insights into the future of entrepreneurship in the category.

The Mindbody board unanimously voted to promote McCarter. Current chief technology officer Sunil Rajasekar will assume the role of president, in addition to his CTO responsibilities. Aaron Stead, current SVP of North American sales, will assume the role of chief revenue officer.

"I'm excited to begin the next chapter of my journey here at Mindbody," said McCarter. "Rick has built something truly special and I think I speak for everyone at the company when I thank him for his exceptional leadership and vision. The team Rick has assembled is unmatched in this industry and will be key to our success as we continue to evolve the brand. As executive chair, Rick will continue to provide invaluable guidance as we work to enable our customers' success."

Stollmeyer co-founded Mindbody in his garage in 2001, leveraging affordable personal computing technology and the internet to create a breakthrough desktop software solution for boutique fitness studios. The nascent startup innovated rapidly from there, expanding to other wellness markets and releasing the industry's first integrated web scheduling solution in 2002.   The company's watershed moment came in 2005 when it released Mindbody Online, the wellness industry's first cloud-based business management solution. In 2014, the company catapulted forward again when Mindbody launched its consumer brand via the Mindbody app. The company went public in 2015 and by 2019 had grown to serve tens of thousands of wellness businesses and tens of millions of consumers worldwide. In February of that year, Mindbody was acquired by Vista Equity Partners.

"Mindbody has been my career and singular passion for more than two decades, and I am most proud of the entrepreneurs we have helped and the jobs we have created," Stollmeyer said. "It has been an exciting 20 years, but these are still the early innings for Mindbody and the wellness industry. Enormous growth opportunities lie ahead and those are made even more important and compelling by COVID-19. With Josh McCarter now at the helm, Sunil Rajasekar as president/CTO, and the strongest team in our history, Mindbody is well positioned to expand our leadership in the years ahead. There is no doubt we will succeed, and I look forward to supporting the company as executive chair."

This year has been a time of transition and innovation for Mindbody, as the company launched an integrated Virtual Wellness Platform in the midst of the initial COVID-19 shutdown.   Designed to enable wellness businesses of the future to seamlessly integrate in-person and virtual experiences, this new platform is currently experiencing rapid adoption around the globe. Mindbody's vision for the future of the industry is characterized by hybrid delivery models, smaller in-person class sizes, more home-based services, corporate wellness, and greater access for billions of people.

About Mindbody
Mindbody is the leading technology platform for the fitness, wellness, and beauty industries. Fitness studios, salons, spas, and integrated health centers?from the newest entrepreneurs to the largest franchises?use Mindbody's integrated software and payments platform to run, market, and grow their businesses. Consumers use Mindbody to more easily find, engage, and transact with wellness providers in their local communities and around the world. For more information on how Mindbody is helping people lead healthier, happier lives by connecting the world to wellness, visit mindbodyonline.com.

SOURCE Mindbody

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