Bally Total Fitness' board of directors has been reduced to four members with the recent resignation of John Rogers, Jr. Rogers, the chairman and CEO of Ariel Capital Management LLC, notified the board on Nov. 16 and resigned immediately, according to a filing with the Securities and Exchange Commission. His departure was not due to a disagreement with the company, according to the filing.
Rogers is the second board member to step down in recent months. James McNally, who had served as a board member since Bally went public in 1996, resigned in August. In October, the board decided to not nominate Steven Rogers for reelection and reduce the number of board members down to five.
On Nov. 20, Bally also filed a document with the SEC to outline the items up for a vote at the annual shareholder meeting Dec. 19 in Chicago. Click here to view the agenda.