PITTSBURGH — GNC Holdings on Tuesday named Michael Archbold CEO and appointed him to the board, effective immediately. Stepping down from the CEO post is Joseph Fortunato, formerly chairman, president and CEO. Lead independent director, Michael Hines, has been elected non-executive chairman of the GNC board.
Archbold has more than 25 years of retail industry experience. He most recently served as CEO and CFO of Talbots, a retailer of women's apparel, where he successfully implemented a comprehensive strategy to enhance the customer experience resulting in significant improvement in the company's financial results. Prior to joining Talbots, he served in a variety of senior roles, including president and COO of nutritional product retailer Vitamin Shoppe, where he had oversight of customer initiatives, driving revenue growth and profitability. Archbold previously 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. 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," Hines stated. "Joe Fortunato led 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."