Former IHG boss Andrew Cosslett named chief executive of Fitness First

Andrew Cosslett, the former chief executive of Intercontinental Hotels Group (IHG) has been named as the new chief executive officer of health club chain Fitness First.

Cosslett, who left IHG in June last year, will take up the new role on 1 June and has been brought in as part of the large-scale restructuring of the troubled chain.

He will replace current CEO Chris Stone who has decided to leave, having broadly completed the financial restructuring of the company.

Cosslett led IHG since February 2005 and during his time oversaw the relaunch of the Holiday Inn brand as a mid-market chain. He is currently the chair of the Rugby World Cup 2015 organising committee.

Fitness First changed its top management team in February 2012 after experiencing a difficult period of trading at both its UK and Australian businesses.

Last month, the company - led by Chris Stone - signed an agreement with its key creditors to allow a comprehensive debt write-off. Commenting on the appointment, Stone said: "Andrew is a highly experienced individual with strong brand development experience internationally.

"He is the right person to drive Fitness First and to grow the brand globally and his experience in overseeing the operations of IHG in over 100 countries will stand him in good stead."