AUCKLAND, NEW ZEALAND — Les Mills International appointed Sal Pellegrino to the new role of national sales director in the United States. Pellegrino joins Les Mills from Precor Inc., where he was national account manager for 11 years. Previously, he was East Coast sales manager for equipment supplier Stairmaster for 13 years and also owned and operated two clubs in New York. Pellegrino will be based in North Carolina and will focus on developing relationships with national accounts, as well as working closely with Les Mills' U.S. agents to provide leadership and strategic direction.
GAMBETTOLA, ITALY — Graziano Verdi was set to become the CEO of Technogym starting this month, Technogym President Nerio Alessandri announced in December. Verdi had been the president and CEO of Granitifiandre, an Italian company in the ceramic industry. His objectives as the new CEO of Technogym will be to create value through global challenges, achieve medium and long-term results and to strengthen the company's position as a leader in the wellness industry, according to a company statement.
SUNNYVALE, CA — Expresso Fitness has completed a debt and equity funding event for $14 million, the company announced. The capital will be used to fuel Expresso's revenue growth by expanding the company's product portfolio and market reach. Silicon Valley Bank opened a $7 million working capital line with Expresso. The equity round was joined by all existing investors, including Sierra Ventures, Physic Ventures and Enterprise Partners Venture Capital.
SPRING CITY, PA — World Fitness Systems Inc. has launched an online competitive training program in which users participate in a fitness competition via Internet data collection and rankings. Participants are ranked according to performance in gym-based exercises. Via the World Fitness System Web site, participants' test results are automatically compared with others according to age, gym, weight and other criteria.