Crossfit Ceo Don Faul Steps Down As Sale Process Drags On

The fitness giant is now searching for both a new owner and a new CEO, with Faul set to end his four-year run leading the company

Don Faul is out as CEO of CrossFit LLC, the company announced Tuesday.

His last day is March 6, after nearly four years leading the company. CrossFit is currently in the thick of its Open, which kicked off Feb. 26 and runs through March 16.

“Serving as CrossFit’s CEO has been an honor,” Faul said. “I will miss working with passionate CrossFit employees, affiliates, athletes and community members on a daily basis. I am leaving with immense gratitude and pride in this community.”

CrossFit went up for sale in March, and has spent the past year actively pursuing a new owner. Around one year ago, the brand published an open letter to its community confirming it was seeking the right partner and tapped investment bank Moelis & Company to advise on the sale process.

Rumors have swirled since then about who might take the reins. Last November, reports surfaced citing unidentified sources that a group including 24 Hour Fitness co-founder Mark Mastrov had entered talks to acquire CrossFit, though no deal has been publicly announced (after those reports surfaced, Mastrov reacquired 24 Hour Fitness).

The CrossFit board says it plans to engage an executive search firm for its next CEO.

Last summer, CrossFit launched a provocative marketing campaign — “F*ck the Quick Fix. CrossFit Is the Cure” — taking direct aim at quick-fix culture in a spot featuring athletes grinding through brutal conditions.

The leadership search comes as CrossFit faces a more crowded arena than it has in years. 

Hyrox, the fitness racing format that has exploded into a global phenomenon, is gunning for Olympic status and recently launched a Science Advisory Council. Then there’s Xenom, a just-launched “decathlon of fitness” backed by DreamWorks co-founder Jeffrey Katzenberg’s firm WndrCo, which debuted last week with a $15 million seed round. 

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