This press release was provided by elements. The Club Industry editorial staff was not involved in the creation of this content.
Miami, FL In a move believed to be heading towards a private equity play, elements brands (elements fitness, The BalanceDiet Company, STUDIO, thinspa) has named longtime finance veteran Scott Kauffman as CFO. Kauffman has over 20 years of finance and accounting experience in a wide range of industries and organizations ranging from Fortune 50 to startup, and has raised millions of dollars in capital investment and negotiated deals with some of the most well-known companies in America – such as WalMart, AT&T, and Motorola. The addition of Kauffman as CFO is the third executive level addition to the fast growing Miami-based fitness franchise in 2015.
Prior to joining elements, Kauffman began his career in the Corporate Finance Department of the J.I. Kislak Mortgage Corporation, one of the largest privately-held loan servicers in the United States. Seeking Fortune 50 experience, Scott joined American Express Co, Inc. (Amex) where he served as the lead Finance liaison to the largest customer-facing operating group in the company – encompassing over 5,000 employees. He earned the coveted Amex Chairman’s Award for Quality by helping to identify in excess of $10 million in annualized savings. Scott also served as the lead Finance representative to the operating group responsible for allowing outside banks to issue Amex cards.
Kauffman has as spent the last 14 years at Chief Financial Officer (CFO) level positions, as well as serving as a management and finance consultant assisting early stage growth companies to attract outside investment, develop infrastructure, and in business development. He has operated in the distribution, wholesale, manufacturing, and consumer product sectors. Throughout his career, Kauffman has had management responsibility for accounting, financial planning & analysis, treasury, tax and investor relations. As CFO, Kauffman will be in charge of financial governance, investor relations, and compliance for the fast-growing collection of healthy lifestyle brands.
Brand Founder, Christopher Palumbo: “elements® is growing. Over the past 12 months we have taken many exciting steps to gain position as a market leader, including international expansion, capital improvements to club support and operations, and investments into online and social media properties. Earlier in the year, we announced a new president for the company, as well as the launch of American Spa Company, with Celebrity Spa Director Renata de Abreau. Expanding our executive and finance department with seasoned executives will help continue to develop a strong backbone for scaling and more rapid growth.”
Kaufmans’ announcement comes on the heels of longtime fitness industry executive JoAnna Tuttle being named President of elements fitness, as well as new signature club developments in Miami, New York, and California and the expansion of the brands retail services division.
For more information contact Angelo Garcia [email protected]