Miami, FL - May 29, 2015 - (PR.com) - In a move believed to be heading towards a private equity play, elements brands (including elements fitness, BalanceDiet, thinspa, STUDIO by elements, and e'co natural products) has named longtime finance veteran Scott Kauffman as Chief Financial Officer. Mr. Kauffman has over twenty years of accounting and finance leadership in a range of industries and organizations ranging from startup to Fortune 50. He has raised millions in capital investments and negotiated deals with some of the most well-known brands in America – including AT&T, Motorola, and WalMart. Kauffman is the third executive level addition to the fast growing Miami based fitness franchise company in 2015.
Kauffman started his career in the Corporate Finance Department of the J.I. Kislak Mortgage Corporation, one of the largest privately-held loan service providors in the United States. Seeking Fortune 50 experience, Scott joined American Express Company (Amex) where he served as the lead Finance liaison to the largest customer facing operating group in the company - with over 5,000 employees. Kauffman earned the coveted Amex Chairman’s Award for Quality for identifying over $10 million in annualized savings. Prior to joining elements, 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 CFO (Chief Financial Officer) level positions, as well as serving in a finance and management consultantcy assisting early stage growth companies to attract outside investment, develop infrastructure, and in business development. Throughout his career, Kauffman has had management responsibility for accounting, financial planning & analysis, treasury, tax and investor relations. As CFO at elements brands, Mr. Kauffman will be in charge of investor relations, financial governance, and compliance for the fast-growing family of fitness and lifestyle brands.
"elements® is growing," commented elements brand founder Christopher Palumbo. "Over the past 12 months we have taken several significant 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, a new president for the company was announced, as well as the launch of American Spa Company, with Celebrity Spa Director Renata de Abreau. Expanding our executive and finance department helps to continue develop the strongest 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.
elements® is an international premium fitness and lifestyle brand for women. The company offers membership-based fitness, diet and weight loss services as well as branded product lines throughout a network of wholly owned, as well as franchised health clubs and branded affiliates. The popular chain has announced new locations this year in New York, Tampa, Los Angeles and Boston.
elements® is a family of healthy lifestyle brands, including elements fitness, STUDIO by elements, The BalanceDiet Company, slimberry, thinspa, elementsTV, and 1800 WEIGHT LOSS. The company offers development and joint venture opportunities including product development through a geographically based development system. elements® was founded in 2004 and is owned by Leisure Growth Holdings, inc, Miami, FL.