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CrossFit sold after George Floyd backlash
CrossFit sold after George Floyd backlashBBC News
Read more here: https://www.bbc.com/news/business-53171442
Excerpts:
CrossFit owner Greg Glassman has sold his fitness company, after stepping down as chief following outcry over remarks he made about George Floyd. The comments, in which he asked why he should mourn for Mr Floyd, had prompted athletes, gyms and sportswear firms to cut ties with the business.
Incoming owner Eric Roza, a tech executive and co-founder of a successful CrossFit gym, said he would be "working hard to rebuild bridges".
Terms of the deal were not disclosed. The value of the Crossfit business, which is based on a branded exercise regimen focused on high intensity workouts, has previously been estimated at about $4bn (£3.1bn). It is affiliated with about 13,000 gyms in 158 countries worldwide.
"In the past weeks, divisive statements and allegations have left many members of our community struggling to reconcile our transformative experiences in the local box with what we've been reading online," said Mr Roza, a former Oracle executive who is now working for US venture capitalists General Catalyst. "My view is simple: Racism and sexism are abhorrent and will not be tolerated in CrossFit."
Incoming owner Eric Roza, a tech executive and co-founder of a successful CrossFit gym, said he would be "working hard to rebuild bridges".
Terms of the deal were not disclosed. The value of the Crossfit business, which is based on a branded exercise regimen focused on high intensity workouts, has previously been estimated at about $4bn (£3.1bn). It is affiliated with about 13,000 gyms in 158 countries worldwide.
"In the past weeks, divisive statements and allegations have left many members of our community struggling to reconcile our transformative experiences in the local box with what we've been reading online," said Mr Roza, a former Oracle executive who is now working for US venture capitalists General Catalyst. "My view is simple: Racism and sexism are abhorrent and will not be tolerated in CrossFit."
The article goes on to review the controversial comments made by Glassman in early June.
I have little sympathy for officials of popular companies that are so full of arrogance and hubris that they're not yet smart enough to watch their comments that get rightfully published out to the public.
KY...........
