Mike Leveque has resigned as president of Star Trac, less than a year after he took over the helm. Dustin Grosz, the CEO of StairMaster LLC, resigned that post to take over as the new Star Trac president.
In a brief, four-paragraph statement released today, the Irvine, CA-based company said that Leveque had resigned to pursue new business opportunities. Leveque had held numerous positions at Star Trac for the past 18 years.
Michael Bruno, chairman and CEO of Star Trac, said that Leveque resigned Monday and that the departure was mutual and amicable.
“Mike is a really great guy. A very classy guy,” Bruno told Club Industry. “It was time for him to move on, and he wanted to do that.
“We did not ask Mike Leveque to leave our company,” Bruno added. “I appreciate all the work he’s done over the last 18 years, and we did not ask him to leave Star Trac. He decided that that’s what he wanted to do.”
Leveque replaced Steve Nero as president last May after Nero’s resignation. Last July, Bruno purchased Star Trac.
“We were kind of handed Mike as the CEO, and he was kind of handed me as the owner,” Bruno said. “We got along great. We had a very trying eight months, and I don’t know that Mike’s ever raised his voice to me, and I don’t think I ever raised my voice to him. We had a great working relationship. It’s just over.”
In the statement released by Star Trac, Leveque said, “I am pleased to have been part of the Star Trac family, and I believe that under Mike Bruno and Dustin Grosz’ leadership, the company will be positioned for long-term success.”
Bruno knew Grosz from Grosz’s days at Nautilus Inc., where he was a former vice president of operations. In January 2010, Bruno’s Fit Dragon International, an affiliate of his Land America Health and Fitness Co., Xiamen, China, finalized the purchase of the StairMaster and Schwinn commercial assets from Nautilus. Grosz soon became CEO of Core Fitness LLC, which does business as StairMaster LLC.
“Dustin Grosz is taking over, and we kind of need someone with some back-end-of-the-business experience, and Dustin brings years of that from Nautilus,” Bruno said. “He was the former CEO of StairMaster, and he did a great job. I’m excited for Mike to move on in his career, and we’re excited for Star Trac to move to the next step.”
Core Industries Inc. replaced Unisen Inc. as the parent company of Star Trac after Star Trac entered into an Assignment for the Benefit of Creditors last November. Core Industries Inc. and Core Fitness LLC—both owned by Bruno—will operate as separate entities.